Iraq’s oil ministry has said it will seek to hold the country’s crude production at 4.513 million b/d for the next six months, keeping the country in line with the OPEC cut deal reached last month. The cut would be 140,000 b/d from the reference level of 4.653 million b/d reached in October, the ministry said in a statement Friday. The reduction is broadly in line with that laid out in an OPEC secretariat document seen by S&P Global Platts in December, which allocated Iraq a 141,000 b/d cut to 4.512 million b/d. In December OPEC , Russia and nine other non-OPEC allies agreed to a combined 1.2 million b/d supply reduction for the first six months of 2019 to shore up what many expect to be weakening market fundamentals ahead. The agreement exempts Libya, […]