An Economist From Harvard University Rules Out Iraq’s Commitment To OPEC Agreement To Reduce Oil Production

BAGHDAD � A specialist in the management of crises of state institutions - Harvard University, Ali Jabbar al-Furaiji ruled out Iraq's commitment to the OPEC countries' agreement to cut oil production, confirming that "OPEC member states will have difficulty to meet their promises that had agreed at the end of last year, which hoped to be renewed in May this year,.

"It will be difficult for Iraq and its economy to face this reduction for long periods and it will be binding on OPEC countries to reconsider the decision to include Iraq in reducing its production, especially with its urgent financial obligations for the reconstruction of the liberated areas," he said in a statement to the National Iraqi News Agency .

He added, "According to the IEA report, only a few OPEC countries are fully in compliance with the cartel's agreement to limit crude production.

Overall compliance fell to 78 % in June from 95 % in May, which is the lowest level since the agreement went into effect in January.

Saudi Arabia, Equatorial Guinea and Angola are the other two members who fully comply with the reduction agreement. "

Source: National Iraqi News Agency