Saudis, Russia Seen by Iraq as More Flexible on Oil-Output Cuts

  • Crude seen rising to $50 in second half: Iraq oil minister
  • OPEC strategy is working, Kuwait acting oil minister says

Saudi Arabia and Russia, the world’s biggest oil producers, are now more flexible about cooperating to cut output as crude prices have fallen to levels that hydrocarbon-rich nations didn’t foresee, Iraq’s Oil Minister Adel Abdul Mahdi said.

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