With the rise in oil prices there is some concern the OPEC / non-OPEC agreement to cut output may be starting to look vulnerable

Says Iraq's Oil Minister Jabbar al-Luaibi (speaking on Saturday at a conference in Abu Dhabi)

  • "There are some sources here and there indicating that the market is flourishing now, the prices are healthy, so let's talk about terminating the freeze
  • This is the wrong judgment, and we don't agree with such a concept."

More here at Bloomberg

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The concern is that any temptation to increase oil output volume would weight on price again.