(Bloomberg) — Iraq is reassessing contracts to pump crude at fields where production costs are high as it tries to contain expenses while curbing output, the oil minister said, according to a report on Sunday in Al-Sabah newspaper.OPEC’s second-biggest producer has an interest in cooperating with other global suppliers in reducing output to prop up crude prices, Oil Minister Ihsan Abdul Jabbar said in an interview with state-run Al-Sabah. The ministry is reviewing some of its contracts and may try to amend those with high costs, he said, without giving additional details.Iraq, a long-time laggard in meeting output cuts that …read more
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