FUJAIRAH, United Arab Emirates - Iraq does not see the need for more output cuts now, but if there is a need the country will support consensus within the Organization of the Petroleum Exporting Countries (OPEC), Iraq's oil minister Jabar al-Luaibi said on Tuesday,
Iraq's oil supply cuts are around 260,000 barrels per day, exceeding its share of planned reduction, al-Luaibi told Reuters on the sidelines of an energy conference in the United Arab Emirates.
He said also said prices in the range of $55 to $60 barrels a day are better for everyone.
OPEC and other producers, including Russia, have agreed to reduce output by about 1.8 million barrels per day until March 2018 in a bid to reduce global oil inventories and support oil prices.
(Reporting by Rania El Gamal,; Writing by Saeed Azhar, Editing by Sylvia Westall) ((Saeed.Azhar@thomsonreuters.com; +65-64035664 ; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))
Iraq's oil supply cuts are around 260,000 barrels per day, exceeding its share of planned reduction, al-Luaibi told Reuters on the sidelines of an energy conference in the United Arab Emirates.
He said also said prices in the range of $55 to $60 barrels a day are better for everyone.
OPEC and other producers, including Russia, have agreed to reduce output by about 1.8 million barrels per day until March 2018 in a bid to reduce global oil inventories and support oil prices.
(Reporting by Rania El Gamal,; Writing by Saeed Azhar, Editing by Sylvia Westall) ((Saeed.Azhar@thomsonreuters.com; +65-64035664 ; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))
