Iraq sets ceiling on oil production before Algeria meeting

September 23, 2016 8:10 AM

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BAGHDAD – OPEC member Iraq says it supports any deal to prop up oil prices ahead of next week's meeting of oil producers in Algeria.

In a statement issued late Thursday, Iraq's Oil Minister, Jabar al-Luaibi, set a production ceiling of between 4.75 and 5 million barrels per day. Al-Luaibi said Iraq's "fixed policy is to maintain Iraq's share" in the global oil market.

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