OPEC+ yet undecided on oil output increase — Iraqi minister
OPEC+ countries, who will meet in Vienna on June 22-23 to discuss easing oil output quotas, have so far failed to reach consensus on the issue, Iraqi Oil Minister Jabbar Alluaibi said upon his arrival to Vienna, TASS reports.
"We have not considered the increase yet," the minister said, adding that the issue will be addressed during the meeting.
He did not respond to a question of whether his country, the world’s second biggest oil producer, will support the proposed increase. According to earlier reports, Iran, Iraq and Venezuela oppose Russia and Saudi Arabia’s proposal to increase oil output.
OPEC nations will meet in the Austrian capital on June 22. 11 non-member nations, including Russia, will join them the following day to discuss increasing oil production by 1.5 million barrels per day.