By Osama Jalal
KUWAIT, Dec 28 (KUNA) -- The visiting Iraqi Oil Minister Jabar Al-Luaibi on Wednesday affirmed Baghdad's adherence to slashing its daily crude oil output by 200,000-210,000 per day as of early January.
Al-Lubaibi affirmed in a statement to KUNA that Iraq would abide by the accord that had been reached in Vienna on cutting the oil production by OPEC and non-OPEC member states.
Iraq is keen on maintaining balance in the international oil markets and trimming the glut in line with the agreement, he said, urging other producers to honor their obligations and decrease the crude output, each according to the set quota.
He lauded the consensus as a step in the right direction to stabilize the oil markets and "support" the prices which have been on a bullish track since declaring the accord on slashing the output.
The oil price is forecast to reach USD 60 dollars per barrel, he said, adding that many experts and analysts have predicted this level.
The Iraqi oil minister started an official visit to Kuwait on Tuesday to discuss oil issues of joint concern for the two neighboring countries. (end)