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By Reuters Staff 2 Min Read BAGHDAD (Reuters) - Iraqi oil minister Ihsan Abdul Jabbar told state TV in an interview on Thursday that Saudi Arabia’s voluntary output cut of 1 million bpd helps stabilize the market, and he expected steady oil prices that should reach around $57 per barrel in the first quarter. Oil minister said Iraq is in “heavy talks” with OPEC and allied oil producers to allow Iraq to postpone compensating for earlier overproduction. “OPEC members and allies were understanding to Iraq’s situation and its financial crisis,” oil minister said in an interview with state TV. Abdul Jabbar said requesting delaying compensation of overproduction doesn’t not mean Iraq would evade complying with its commitment to OPEC+ cut deal and will abide by cutting its production to preserve market stability.

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