Saudi Arabia's energy minister and Iraqi counterpart stressed, in a phone call, their countries' full commitment to an OPEC+ deal curbing oil production, Iraqi state news agency said on Friday citing a joint statement from both ministries.
FILE PHOTO: The logo of the Organization of the Petroleoum Exporting Countries is seen outside of OPEC's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File Photo
The two ministers discussed the latest developments in oil markets, continued recovery in global demand and progress made towards implementing the OPEC+ agreement. OPEC, Russia and other producers, a group known as OPEC+, agreed to cuts of 9.7 million bpd, or 10% of global output, from May 1. In July, they delivered 5.743 million bpd of the pledged reduction, equal to 94% compliance, the Reuters survey found.
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