FXStreet — The Iraqi oil Minister Jabar al-Luaibi said, according to a report by the Reuters news Agency that Iraq had achieved its share of the production cuts of OPEC and non — OPEC countries at the end of last year. But, as before, ready to meet also in future the growth in demand.
«Iraq, as the second-largest OPEC producer confirmed his performance from the commitment to the implementation of the reduction of Production, and has recently announced its willingness to extend the subsidy cuts,» said Falah Alamri, Chairman of the state-funded company, State Oil Marketing Organization (SOMO).
However, he also said that Iraq is the extension of the reduction for a further six months of support, to which the investors reacted disappointed because they had expected an extension to nine months.
** FXStreet News Editorial, FXStreet**