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Middle East Monitor (16 September 2020)

Iraq’s commitment to a recent agreement by the Russian-led OPEC+ group will deprive the country of 750,000 barrels of oil per day (bpd), the former Iraqi oil minister warned yesterday.

“OPEC+ deal would incur $50 billion in losses over the next two years,” Ibrahim Bahr Al-Ulloum told Russia Today (RT).

In an interview where he discussed the deal’s potential negative economic impact, Al-Ulloum said that Iraq must “review the OPEC+ agreement,” warning that Baghdad could not “bear the burden of other countries’ interests”.

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