Iraq, Angola signal willingness to extend OPEC oil output cuts - BBG

At the CERAWeek oil-industry conference in Houston held on Monday, two OPEC producers signaled a willingness to extend the OPEC’s oil production cuts into the second half of this year, Bloomberg reported on Tuesday.

Iraq Oil Minister Jabbar Al-Luaibi noted, “We are satisfied somewhat, but we are looking forward for improvement in the price." 

When asked on OPEC output cut deal extension, Al-Luaibi said, “It’s likely we need to." Iraq has “fully" complied with the reductions agreed to last year.

In a separate interview, Isabel dos Santos, chairman of Angola’s oil company Sonangol, said that they support prolonging the deal as long as necessary.