Oil Minister, Jabbar Luaibi said that Iraq has implemented even today almost 90 to 93 percent of a cut in oil production, which has been reached between the oil-producing countries, within the organization, "OPEC", and outside the agreement.
Russia Sputnik quoted Luaibi as saying: "For Iraq, we are now close to 90 to 93% of the level of implementation of a cut in oil production agreement, adding that, the country is close to achieving the level of 100% of the size of the reduction provided for in the declared between the oil-producing countries of the agreement.
The Organization of Petroleum Exporting Countries "OPEC", decided on November 201,630, reduced output by 1.2 million barrels of oil a day, up to 32.5 million barrels, as of the month of January 2017.
Under the decision issued in this regard, that the oil-producing countries from outside "OPEC" to reduce the size of its oil production, at a rate of 600 thousand barrels per day, noting that Russia, one and as one of the top oil-producing countries, announced its agreement to reduce production, at a rate of 300 thousand barrels of oil per day, with a view from Moscow to maintain the stability of the global oil prices.
It should be noted that "OPEC" organization, has subsequently invited 14 countries from abroad, to participate in a meeting held in Vienna on 10 December / December 2016, to discuss the procedures required for the stability of the oil market.
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