Iraq says to fully comply with oil output cuts by October

FILE PHOTO: Iraqi Oil Minister Thamer Ghadhban speaks to the media at the ministry's headquarters in Baghdad, Iraq October 31, 2018. REUTERS/Khalid Al-Mousily/File Photo

DUBAI (Reuters) - Iraq will be fully compliant by October with agreed oil output cuts under an OPEC-led supply deal and Baghdad’s reduction will amount to 175,000 barrels per day (bpd), Oil Minister Thamer Ghadhban said on Thursday.

He said the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, would have to accept and deal with the fact that Iran and Venezuela -- whose exports have collapsed due to sanctions -- would come back to oil markets in a “normal way”.

He said the energy ministers of Saudi Arabia, Russia and Kuwait were expected to visit Iraq on Sept. 26.

Reporting by Reuters OPEC team; editing by Jason Neely