14 Hrs
Source:
وكالة بغداد اليوم الاخبارية
Oil clears Iraq OPEC withdrawal rumors
The Iraqi government confirmed that the reports about Iraq's intention to terminate its membership in OPEC are false. Iraq continues to work on reassessing its oil production quotas in accordance with international agreements and understandings with the organization. Currently, the process of re-evaluating production capacity is underway in coordination with an international consultancy firm. Member countries are gradually reducing their production cuts, with Iraq committed to returning to fair production levels to strengthen its position as the second-largest producer in the organization.
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