Iraq, Algeria favour extending OPEC-led output cut for 6 months - RTRS

The Algerian energy ministry said late-Wednesday, Algeria and Iraq are in favour of extending OPEC and non-OPEC producers' oil output cut deal for a further six months, Reuters reports.

An Iraqi oil source noted: "Iraq is on board with extending the deal in the next OPEC meeting to help stabilize oil prices and balance the market."

OPEC is due to meet later this month in Vienna.