Iraq’s SOMO plans to make output cuts during H1 2017, not by Jan 1. as agreed

Livesquawk reports a statement published by State Organization for Marketing of Oil (SOMO), an Iraqi national oil marketing company, making an announcement to its customers that it plans to make oil production cuts during the first half of 2017.

It doesn’t mention anywhere that it will cut output by Jan. 1 as agreed at the OPEC Vienna meeting.