OPEC+ member states lined up on Sunday to endorse a steep production cut agreed upon earlier this month following accusations from top Biden administration officials against the Saudi government.
But Iraq, the second largest producer in OPEC, said the move was based on economic indicators and done unanimously.
“There is complete consensus among OPEC+ countries that the best approach in dealing with the oil market conditions during the current period of uncertainty and lack of clarity is a pre-emptive approach that supports market stability and provides the future the guidance it needs,” Iraq’s state oil agency said in a statement….