Some oil exporting countries suggest six-month supply cut extension: Iraq's Luaibi

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March 28, 2018 5:08 AM EDT

FILE PHOTO: Iraqi Oil Minister Jabar al-Luaibi speaks during news conference at the ministry of oil in Baghdad, Iraq November 27, 2017. REUTERS/Thaier Al-Sudani /File Photo

BAGHDAD (Reuters) - A number of oil exporting countries have suggested a six-month extension to the oil supply cut deal agreed by OPEC countries and non-OPEC crude producers, Iraqi oil minister Jabar al-Luaibi said on Wednesday.

OPEC and non-OPEC producers led by Russia agreed in November to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of crude while signaling a possible early exit from the deal if the market overheats.

Luaibi did not say which countries have suggested a six- month extension of the agreement.

(Reporting by Ahmed Rasheed; writing by Maher Chmaytelli, editing by Louise Heavens)


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