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OPEC's precarious production cuts
Members of OPEC met Thursday at the Global Energy Forum in Abu Dhabi—the first such meeting of Gulf oil ministers since OPEC agreed to slash production in November in an attempt to stabilize oil prices.
"Moment of drama:" The Iraqi Oil Minister used his keynote slot to denounce the decision to not offer Iraq an exemption from the production cuts, in light of the country's burden fighting ISIS, as noted by Helima Croft of RBC Capital Markets.
OPEC agreements to curb oil output tend to fall apart quickly, and Iraq's fellow members have reason to be skeptical of its commitment to the latest pact.