Iraq can’t afford to reduce its oil production as part of a move by OPEC+ to slash output, according to the top candidate for the Iraqi prime minister’s post, who said the country needs the money to bolster its floundering economy
OPEC+ to slash output
, according to the top candidate for the Iraqi prime minister’s post, who said the country needs the money to bolster its floundering economy. The Saudi-led Organization of the Petroleum Exporting Countries and its Russia-led allies agreed to cut output by 2 million barrels of oil a day last week. Critics, including the U.S., said the cut was meant to push up already-high global energy prices and help Russia pay for its
. Riyadh and Moscow, OPEC+’s biggest producers, have grown closer in recent years as they benefit from the alliance.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yellen says OPEC oil production cuts bad for global economy'UNHELPFUL AND UNWISE': The Biden administration has been loudly critical of the decision by the oil cartel which took the step in defiance of US pressure to keep global oil prices down.
Read more »
Houston gasoline prices surge after OPEC production cutHouston gasoline prices jumped following OPEC's move to cut production, surging past $3 a...
Read more »
Nikki Haley: OPEC wanted to 'stick it to Biden' after Saudi remarks, Iran deal effortsNikki Haley, former U.S. Ambassador to the UN, suggested that OPEC may have decided to cut oil production in response to President Biden's words and actions.
Read more »
STEVE HILTON: Biden's energy policies are endangering the United StatesFox News host Steve Hilton tears into President Biden's decision to release 10 million barrels from the Strategic Petroleum Reserve in response to OPEC+'s decision to cut oil production.
Read more »