Fire of fuel tank kills 123 people in Pakistan - TVWorld June 25, 7:58
Muslims worldwide celebrate Eid al-FitrSociety & Culture June 25, 5:18
Mexico knocks out Russia from FIFA Confederations Cup with 2-1 win in KazanSport June 24, 19:59
Putin visits Crimean youth camp ArtekSociety & Culture June 24, 19:42
Conflict around Qatar should be settled by diplomatic means - source at Foreign MinistryRussian Politics & Diplomacy June 24, 16:44
More than 237,000 fans attend Confederations Cup matches already - Deputy PM MutkoSport June 24, 15:03
Sistema's president hopes for dialogue with Rosneft on settlement agreementBusiness & Economy June 24, 14:56
CNN deletes article about meeting between Scaramucci and Russian Direct Investment FundWorld June 24, 13:12
Ukrainian Army units shell Donetsk Republic in first hours of newceasefireWorld June 24, 5:19
KUWAIT CITY, March 25. /TASS/. Iraq is committed to implementing in full the agreement on oil production cuts, Iraqi Minister of Oil Jabbar al-Luiebi told reporters on Saturday.
Iraq fulfils in full the OPEC deal, he said answering a reporter’s question.
However, it was still early to discuss extension of the oil production cut deal, he said, adding it will be considered on Sunday.
Iraq is OPEC’s second largest oil producer behind Saudi Arabia. Under the oil cut deal, the country was to curb oil output by 210,000 barrels per day starting from January 1, 2017.
On Sunday, Kuwait City will host a meeting of the committee tasked with monitoring oil production cuts.
OPEC decided at its November 2016 meeting in Vienna to limit production to 32.5 mln barrels per day in the first half of 2017, down 1.2 mln barrels per day from October 2016 production levels, with the possibility of extending this limit for the remainder of the year. In a subsequent meeting on December 10, eleven non-OPEC countries pledged to cut nearly 0.6 mln barrels per day, among them Azerbaijan, Bahrein, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, the Republic of Sudan and South Sudan. Thus, the total crude oil production cut will amount to 1.7-1.8 mln barrels per day in the first half of this year. The signed agreement expires in June. The issue of extending it will be discussed at Sunday’s ministerial meeting on monitoring of oil production cut in Kuwait.