Non-Compliant Iraq Now Claims OPEC Deal Is To Cut Exports

By Tsvetana Paraskova The one OPEC producer that has been furthest off target to cut oil output as per the cartel’s deal—Iraq—is now claiming that the agreement implied that exports, rather than production, should be the baseline for the cuts, Iraq’s oil minister Jabbar al-Luaibi has told S&P Global Platts in an interview. “This time, for the first time, OPEC implied that production should be separate from export and their baseline is exports not production,” the minister told Platts. Those words may come as news for fellow OPEC…

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