OPEC’s Second Largest Producer Won’t Give Up On Output Cuts

OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Minister, Ali Allawi, said on Tuesday. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that will allow us to further reduce oil output,” Allawi tweeted, adding that “We remain committed to the OPEC+ deal, and to doing our part towards ensuring a stable and secure global energy market.”…