The OPEC+ group doesn’t plan to change the pace of easing the collective production cuts at its next meeting in early December and will review the output schedule in the first quarter next year, Iraq’s Oil Minister Ihsan Abdul Jabbar Ismail said on Thursday. The next OPEC+ meeting is slated to take place on December 2. The oil minister of OPEC’s second-largest producer after Saudi Arabia also said today that the OPEC+ group is not after a specific oil price level. “OPEC policy is not about lowering or raising prices,” the minister said, as quoted by Bloomberg. During the first quarter of next year, Iraq’s exports from the federal government-controlled fields are expected to increase by 200,000 bpd to 3.4 million bpd as the OPEC+ group continues to ease the production cuts, the minister said.

Source: The North Africa Journal November 12, 2021 16:02 UTC