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News ID: 82860
Publish Date : 16 September 2020 - 21:44

Iraq May Lose $50bn Over OPEC+ Deal: Ex-Minister


BAGHDAD (MEMO) – Iraq’s commitment to a recent agreement by the OPEC+ group will deprive the country of 750,000 barrels of oil per day (bpd), the former Iraqi oil minister warns.
"OPEC+ deal would incur $50 billion in losses over the next two years,” Ibrahim Bahr Al-Ulloum told Russia Today (RT).
The ex-minister was recently reported to have filed a lawsuit in Iraq to annul the decision of the country’s former government, which had approved the deal to reduce oil output last year.