Iraq supports extending OPEC output cut agreement until Dec 2022, says minister

Iraq supports a proposal by OPEC and its allies to extend an agreement to curb oil output until December 2022, Oil Minister Ihsan Abdul Jabbar said on Sunday, expecting oil prices to remain at $70 per barrel or above until then.

Iraq also agrees with the proposal to ease these curbs, by allowing the group known as OPEC+ to increase its output by 400,000 barrels per day from August.