Opec to stick to oil output deal

Web Desk BOL News

20th Sep, 2021. 01:29 pm

RIYADH: Opec and its allies will try to keep oil prices at $70/barrel in the first quarter of 2022, Arab News quoted Iraq’s oil minister, as saying, adding the group is expected to stick to its current production accord when it will meet in October “if prices remain stable”.

Iraq’s total oil exports, including those of the Kurdistan region in the north of the country, should stand at an average of 3.4 million barrels/day in September, Minister Ihsan Abdul Jabbar, told a news conference in Baghdad.

However, he warned the future lockdowns or a decrease in oil prices could affect any decisions at the next month’s meeting.

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