OPEC Chief Says Oil Producers On Course to Deliver Supply Deal
- Iraq is ‘committed’ to Algiers output agreement, Barkindo says
- Russia and other non-OPEC nations will also play their part
OPEC: Iraq 'Firmly Committed' to Algiers Accord
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OPEC’s most senior official said the organization and other major oil producers are “on course” to deliver a deal this month that will temper the global oversupply.
All of OPEC’s 14 members as well as erstwhile rivals such as Russia are committed to finalizing the agreement, to be completed when the group meets Nov. 30, Secretary-General Mohammed Barkindo said Monday in a Bloomberg Television interview. Even Iraq, which has demanded an exemption from supply caps and vowed to increase production, is willing to play its part, he said.