Country urges OPEC to reduce output by 900,000 barrels a day Nation had previously insisted it should be exempt from cuts Iraq will shoulder part of the burden of oil-output cuts, said Prime Minister Haider Al-Abadi, reversing the nation’s previous insistence for an exemption and potentially removing an obstacle to an OPEC deal next week. “Iraq will cut its output to preserve prices,” Al-Abadi told reporters in Baghdad on Wednesday. The country wants OPEC to reduce production by a total of 900,000 barrels a day when it meets next week in Vienna because low prices are hurting global investment in the industry, he said. The premier’s statement could improve the chances that the Organization of Petroleum Exporting Countries will implement its September pledge to reduce crude output to remove a global oversupply and boost prices. OPEC failed to finalize the details of supply curbs Tuesday, largely because of Iran […]