Iraq tells OPEC it will cut oil output to comply with quota – OPEC delegate

Iraq has told OPEC it would start an urgent plan to cut its oil production gradually to fully comply with its quota, an OPEC delegate said on Saturday after the group demanded that Baghdad and other laggards adhere to a pact on output curbs.

Iraq’s plan would include reaching a deal with oil majors to start significant cuts from Iraqi oilfields where they operate and reaching an agreement with the Iraqi Kurdish region to contribute to the total production cut, the delegate said.