Iraq urges at least one million bpd oil output cut

Published March 15th, 2001 - 02:00 GMT

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)

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