Iraq and Nigeria—the two rogue members of OPEC that haven’t been complying with their share of the production cuts in recent months—pledged on Thursday to fall within their respective caps while the cartel and its allies are trying to rebalance the oil market. Iraq, the second-biggest producer in OPEC behind Saudi Arabia, has said that it would cut its current production by 175,000 bpd by October, Reuters reported on Thursday after a monitoring panel of OPEC and its allies met in Abu Dhabi. OPEC’s second-largest producer…
