Iraq urges at least one million bpd oil output cut
Iraqi Oil Minister Amer Rachid called Wednesday for an OPEC output cut of at least one million barrels per day, ahead of a meeting of the oil-producing cartel in Vienna.
"Our position will be we will ask for a one million barrel a day cut, at least," he said as he arrived for the meeting with energy chiefs of the Organisation of Petroleum Exporting Countries on Friday. "I'm sure we will get a consensus of something like one million barrels a day," he told reporters.
Iraq is a member of the 11-member cartel, but has not been part of OPEC's quota system since the 1991 Gulf War, after which the United Nations implemented an oil-for-food arrangement on its oil exports.
Rachid said that Iraq would approach "exports of around two million" barrels a day in March. Iraqi exports have been fitful at best since Baghdad implemented an embargo last year amid a row with the UN over pricing under the oil-for-food deal.
Kuwaiti Oil Minister Adel el-Sebeih however remain tight-lipped as he arrived in Vienna late Wednesday.
"We do not have a specific number," he said. "We have to wait until we have discussed with our colleagues."—AFP.
©--Agence France Presse 2001.
© 2001 Mena Report (www.menareport.com)