The statement showed that Iraq confirmed that it has reduced oil production to 3.30 million barrels per day in accordance with its commitment to OPEC + voluntary production cuts.
Libya's Waha Oil Company said it would gradually start cutting production.
On July 17, according to people familiar with the matter, Russia plans to further cut crude oil production to make up for the production exceeding the OPEC + quota in the warm season this year and next year. The additional production cuts from Moscow are most likely to be implemented in the summer and early autumn due to technical reasons, the people said. Since starting cooperation with OPEC, Russia has said that it cannot significantly reduce production in the late autumn and winter due to the...