A worker checks the valves at Al-Sheiba oil refinery in the city of Basra, Iraq, Jan. 26, 2016. REUTERS/Essam Al-Sudani
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Iraq has reduced its oil production by 160,000 barrels a day and will comply with cuts it agreed to make under an OPEC output deal, Oil Minister Jabbar al-Luaibi said, even as ship loading data suggested that exports are set to increase next month.Iraq has pledged to reduce its production by 210,000 barrels a day from October levels, under a Nov. 30 agreement by the Organization of Petroleum Exporting Countries.Iraq expects to fully implement its pledged cut of 210,000 barrels a day by the end of January, Luaibi said, without specifying areas or fields where it would make the additional decrease beyond the current reduction of 160,000 barrels a day.
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