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Comments from Iraq’s Oil Ministry via its state news agency

  • OPEC is cautious about pumping and reducing oil supplies
  • OPEC does not want to lose this success because oil markets remain fragile
  • Any additional quantity can cause a collapse in price or oversupply

I think this relates more to future politics, but it doesn’t really reveal much about what they might collectively do as a bloc at next week’s meeting in response to the SPR launch.

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