[size=36]Iraq: Any measure to increase oil production will not be unilateral[/size]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
spokesman for the Ministry of Oil Assem Jihad, on Monday, Iraq's commitment to global supply cuts initiated by OPEC and its allies and any decision to increase or reduce production should be taken by OPEC collectively.
"Iraq does not make an individual decision to compensate for the shortage in the oil market for any reason," Jihad said, according to Reuters when asked if Iraq was ready to increase its production to compensate for any potential shortage of Iranian oil supplies.
A source familiar with the matter said the United States is expected to announce today that Iranian oil buyers should stop imports quickly or face sanctions, triggering a 3 percent jump in crude prices to reach their highest levels this year.