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Iraq 's economy : extension of Vienna agreement possible in November
The Iraqi oil minister, Jabbar al-Luaibi, announced that the decision to extend the agreement on the production of oil between OPEC and non-OPEC producers will be in November.
Al-Allaibi, after talks with his Russian counterpart Alexander Novak in Moscow, stressed that Baghdad strongly supports the extension of the production reduction agreement for a period beyond its expiry for another three months, saying: "We are with the extension of the agreement .. is valid until March 2018, but Today, we had a discussion and a review of the situation with the Russian energy minister, and I had a discussion with the Saudi minister of oil about a month ago. "
Al-Luaibi told reporters during his visit to Moscow that Iraq would comply with the decision in case of extension of the agreement to contribute to stabilize the oil market.
"For Iraq, we are committed to the decisions of (OPEC), and in fact we cut [production volume] even more than the average ... more than 210 thousand barrels per day to the current production volume to 4.320 million barrels per day"
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