Iraq Asks Oil Producers Not to Hike Output
Iraq’s oil minister on Saturday urged other oil-producing nations not to boost output because of his country’s decision to stop exports in the wake of a U.N. decision it opposed.
Oil Minister Amer Mohammed Rashid said Iraq’s oil exports halt is only temporary, and the country will resume shipments if the United Nations renews the “oil-for-food” program for another six months.
Renewals of the program have been fairly routine. But on Nov. 20, the U.N. extended the program for just two weeks while it tries to formulate a broader policy toward Iraq.
Iraq rejected the brief extension and halted oil exports the following day.
Rashid declared that it would be “irresponsible” on the part of any oil-producing country to use Iraq’s decision as a pretext for increasing output.
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