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

Date: 16 September 2020 - 21:44

News ID: ۸۲۸۶۰

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.