Iraq will run with the agreement come to by OPEC when the oil exporter aggregate meets in Vienna one month from now to talk about expanding generation cuts, the nation's oil serve said on Thursday.
"Presently we're going on the 25th of May to OPEC and we're certainly going to be in accordance with OPEC's official conclusion and aggregate choices," Jabar al-Luaibi told a gathering in Paris.
Iraq, the second-biggest maker in the Organization of the Petroleum Exporting Countries, was in full consistence with the OPEC-drove supply settlement achieved a year ago and has accomplished around 97 percent of its yield diminishment target, Luaibi said.
"Iraq is completely dedicated and Iraq is in full consistence with OPEC individuals," Luaibi said.
He included that the OPEC-drove slices were step by step prompting a hotly anticipated rebalancing of the oil showcase.
OPEC, Russia and different makers initially consented to cut generation by 1.8 million barrels for every day (bpd) for six months from Jan. 1 to bolster the market and to bring a supply overabundance into check.
The makers are relied upon to draw out the agreement for a further six months when they meet in May.
Luaibi said the OPEC choice to cut did not mean nations ought to quit building up their oil businesses.
Recently, Luaibi said Iraq wanted to raise its oil yield ability to 5 million bpd before the finish of the year.