The eight OPEC+ countries, including Iraq, have agreed to the continuing of their phased rollback of 2.2 million bpd in voluntary cuts that began in April.According to a statement from OPEC, the decision, taken during a virtual meeting on 3rd August, reflects confidence in current oil market fundamentals, including low inventory levels and a stable global economic outlook. The countries reiterated that the adjustment aligns with the 5th December 2024 agreement, which allows for a gradual and flexible return of production, with the ability to pause or reverse adjustments depending on market conditions.The group also stressed the importance of compensating for any overproduction since January 2024 and confirmed their collective commitment to the Declaration of Cooperation, which is being monitored by the Joint Ministerial Monitoring Committee (JMMC).Regular monthly reviews will continue, with the next meeting scheduled for 7th September 2025. (ICE AMMAN)

Fonte notizia: Stampa Locale