October 22, 2017 / 3:14 PM / a year ago

Saudi and Iraq satisfied with oil market recovery - state news

RIYADH (Reuters) - Saudi Arabia and Iraq expressed satisfaction with the orientation of the global oil market towards recovery as a result of a deal to boost prices by limiting production, Saudi state media reported on Sunday.

OPEC, Russia and a number of other oil producers are cutting output until March 2018 in an effort to boost the price of crude.

Saudi Arabia and Iraq are respectively the biggest and second-biggest producers in the Organization of the Petroleum Exporting Countries.

Reporting by Stephen Kalin; Editing by Dale Hudson

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