Iraq seeks exemption from OPEC export cut deal

Iraq's Minister of Oil Ihsan Abdul Jabbar told local media that the government requested an exemption from the Organization of the Petroleum Exporting Countries (OPEC) export reduction deal for the first quarter of 2021.

Baghdad will comply with the export cuts the next three months, he clarified.

Last month, the minister revealed that Iraq would compensate in August and September for a previous lack of compliance with the OPEC+ output reduction agreement.