Iraq will further cut its oil output and remains committed to the OPEC+ deal, finance minister and acting oil minister Ali Abdul Ameer Allawi said on Twitter.
OPEC and its allies such as Russia are due to decide later this month whether to extend record oil cuts they approved in April. Iraq has shown weak compliance with its output reduction targets in May.
Oil rises as market waits for OPEC+ decision on output cutsOil edged higher toward $36 a barrel as the market waited to see if OPEC and its allies will extend record production curbs.Futures in New York rose ... Energy
Oil tankers queue off China’s coast, suggesting rebound in crude demandQueues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production ... Energy
UAE’s ADNOC moves to capture returning Asian oil demand: ReportsThe UAE’s Abu Dhabi National Oil Co (ADNOC) has told its customers in Asia that it has sufficient supplies of crude oil as demand begins to return, ... Energy