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Iraq oil minister: OPEC expected to roll over deal on supply cuts

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OPEC is likely to roll over a deal on cutting supplies at a meeting next week and keep curbs at least at the same level as those in place since January 1, Iraq’s oil minister said on Thursday.

Thamer al-Ghadhban also told reporters in London that Exxon had completed an evacuation of its staff from an oilfield in southern Iraq over security concerns, a move Baghdad has said was unjustified. Iraq was also drawing up a heads of agreement on a new energy deal with the US firm, he added.