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Russia's Novak says global oil freeze deal unlikely to fail because of Iraq

Reuters

KRASNOGORSK, Russia (Reuters) - A potential global deal to cap oil production is unlikely to collapse because of Iraq's claims it would not curb its output, Russian Energy Minister Alexander Novak said on Wednesday.

OPEC's second largest producer after Saudi Arabia, Iraq says it will not cut output because it needs oil money to fight the Islamic State.

Iraqi officials say the country should get the same exemptions as Iran, Nigeria and Libya - whose crude output has been hit by wars and sanctions.

(Reporting by Anastasia Lyrchikova; writing by Vladimir Soldatkin; editing by Katya Golubkova)