Iraq Says Some OPEC, Allied Producers Seek Oil Cuts Into 2019
- Output cuts are scheduled to last until the end of the year
- Some suggested extension for 3 months, others for 6 months
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Some OPEC producers and other countries participating in global output cuts have suggested extending the curbs beyond 2018 and up to the middle of next year, according to Iraq’s Oil Minister Jabbar al-Luaibi.
Some producers suggested extending the cuts for three months and others for six months after their planned expiration at the end of this year, al-Luaibi told reporters at an energy conference in Baghdad. He didn’t identify the countries. OPEC is looking for a long-term cooperation with other global producers, OPEC Secretary-General Mohammad Barkindo said at the same event.