BAGHDAD, Feb. 24 (Xinhua) -- Iraq's Oil Ministry on Monday affirmed its commitment to the agreement with the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, on additional voluntary production cuts in addition to efforts to compensate for exceeding the quota during the previous months.

A statement by the ministry said its commitment came during a joint phone call between Iraqi Oil Minister Hayan Abdul Ghani, Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud, Russia's Deputy Prime Minister Alexander Novak, and OPEC Secretary-General Haitham Al Ghais.

The Iraqi ministry said that it would submit an updated plan to compensate for the surplus production during the previous period, taking into account the federal government's receipt of oil produced in the semi-autonomous region of Kurdistan and the resumption of exports via the Iraqi-Turkish pipeline.

According to data from secondary sources approved by OPEC, Iraq's crude oil production in January reached 3.999 million barrels per day, a positive indicator reflecting Iraq's adherence to the agreed-upon production levels, the statement noted.

Iraq's economy relies heavily on crude oil exports, which account for about 90 percent of the country's revenues. Enditem

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