Disorder In OPEC Ranks, Iraq Refuses Oil Production Cuts |
| October 27, 2016 | October 2016 Bond Updates |
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OPEC reached a tentative agreement last month to cut oil production at its next meeting in November. However, Iraq, the cartel's second largest producer, is balking, stating that it will not reduce output because it needs funds to keep up its battle against ISIS. The militant group has been sending "suicide squads" from Syria to its Iraqi stronghold of Mosul, as tens of thousands of Iraqi troops close in on the city. |
| View more at: http://www.forbes.com/sites/timdaiss/2016/10/26/disorder-in-opec-ranks-iraq-refuses-oil-production-cuts/ |
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