29 March 2018, Baghdad — A number of oil exporting countries have suggested a six-month extension to the oil supply cut deal agreed by OPEC countries and non-OPEC crude producers, Iraqi oil minister Jabar al-Luaibi said on Wednesday.
OPEC and non-OPEC producers led by Russia agreed in November to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of crude while signaling a possible early exit from the deal if the market overheats.
Luaibi did not say which countries have suggested a six- month extension of the agreement.
*Ahmed Rasheed; Maher Chmaytelli, editing: Louise Heavens – Reuters
