OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Minister, Ali Allawi, said on Tuesday. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that will allow us to further reduce oil output,” Allawi tweeted , adding that “We remain committed to the OPEC+ deal, and to doing our part towards ensuring a stable and secure global energy market.” Iraq, which was the least compliant member of the OPEC+ pact in the previous agreements, was slow to begin the new round of cuts , too. A week after the new agreement entered into force on May 1, Iraq was still negotiating with oil majors about which oilfields would need to cut production. As part of the OPEC+ deal, Iraq needs to cut around 1 million barrels per day […]