An OPEC+ Country Forsee Deadlock Due To Cut in Oil Production!

Iraq, OPEC’s second largest oil producer, has instructed its biggest company, Basra Oil Co. (BOC), to cut output from May.
It is a part of its efforts to reduce its output by 1 million bpd, or 1% of global supply.
But it has yet to agree an action plan with other oil companies such as BP BP.L, Exxon XOM.N, Eni ENI.MI or Lukoil LKOH.MM, which operate the biggest fields in the country.

Ahmed Rasheed, Alex Lawler and Ahmad Ghaddar write for Nasdaq about Iraq’s difficulties to fully implement an...