Remarks by Iraq's oil ministry via its state news agency

  • OPEC is cautious about pumping and reducing oil supply
  • OPEC does not want to lose this success because oil markets remain fragile
  • Any additional quantities can lead to collapse in price or oversupply

I reckon this relates more to future policy but it doesn't really reveal much about what they might do collectively as a bloc in next week's meeting in response to the SPR release.