Iraq’s Minister of Oil stated at an oil conference in Houston that it is “too early to speculate whether OPEC will extend the oil reduction,” adding that he plans for Iraq to continue participating if OPEC decides to extend the agreement for the second half of the year. OPEC nations agreed to cut oil production by 1.2 million barrels per day in January 2017 in order to raise oil prices that fell below US$25 per barrel. Source: Iraq TradeLink