Iraq Pledges to Support an OPEC Freeze Deal, Shifting Its Stance
- Al-Abadi backs oil-output cap at Algiers gathering next month
- Premier previously stressed Iraq’s need to boost production
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Iraq would support a proposal for OPEC and other major oil producers to freeze output at talks in Algeria next month, Prime Minister Haidar Al-Abadi said in Baghdad.
The endorsement marks a slight shift by Al-Abadi, who was quoted by Reuters on Aug. 23 saying that Iraq still hadn’t raised production sufficiently. The country’s deputy oil minister, Fayyad Al-Nima, said the following day that Iraq would support measures to establish fair crude prices.