Iraq won't Agree to New OPEC+ Oil Production Cuts, Oil Minister Says

OIL PRICE - Baghdad, May 11 (Reuters) - Iraq's oil minister said on Saturday Iraq had made enough voluntary oil production reductions and would not agree to any additional cuts taken by OPEC+ at its next meeting early next month.

Sources with the knowledge of the matter have told Reuters that OPEC+, which includes the Organization of the Petroleum Exporting Countries, Russia and other non-OPEC producers, could extend some voluntary output cuts should demand fail to pick up.

Asked by a reporter whether Iraq would agree to extend the OPEC+ voluntary cuts at the meeting scheduled for June 1, Hayan Abdul Ghani said: "Iraq has reduced (output) enough and will not agree to any new cut."

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