Iraq says Opec+ to mull more cuts, jarring with group’s stated stance

Iraq said that Opec and its allies will consider deeper production cuts, though the comments come after the coalition has widely signalled reluctance to take such action.

The reduction could be about 400,000 barrels a day, Iraq’s oilNSE -0.32 % minister Thamir Ghadhban told reporters in Baghdad on Sunday, adding that Iraq complied with its commitment to lowering output in November. “This figure has been discussed and reached between Opec ministers as a result of careful studies.”