The semi-autonomous Kurdistan region in Iraq has agreed to reduce the region’s crude oil production as part of the ongoing OPEC+ agreement, the Kurdistan Regional Government (KRG) said on Thursday. The statement came after Iraq’s Oil Minister Ihsan Abdul Jabbar said earlier this week at an online petroleum conference that “the Kurdistan Region has not been contributing to OPEC+ cuts.” Iraq, the least compliant member of the OPEC+ production cut pact, has promised for months to reduce its oil production and fall in line with its quota—something it hasn’t done since 2017. In recent months, Iraq has come under pressure from its fellow OPEC+ partners led by Saudi Arabia to stop cheating on their production quotas and finally start complying with the agreement. OPEC’s second-largest producer after Saudi Arabia still has to fully comply with its commitment and needs to make additional cuts by the end of the year […]