Iraq is committed to the OPEC+ output cuts and will only boost its future crude production if there is demand from international oil markets, a deputy oil minister told the state-run Iraqi News Agency Feb. 9. “Iraq is committed to the [OPEC+] agreement to cut production in light of the current challenges facing the international oil market and global oil producers due to the coronavirus that led to the contraction and recession in the global economy,” Karim Hattab told INA. “The increase in oil prices is a result of the commitment of producing countries to the agreement.” Iraq, OPEC’s second largest producer, which currently has a production capacity of around 5 […]