Iraq to cut its oil production to comply with OPEC's agreement
at 11:04 (Baghdad time)
Baghdad balances News
Two sources in the oil sector said that the average Iraqi oil exports from the south reached 3.163 million barrels per day since the beginning of March due to bad weather and the decline in production due to maintenance operations as the country seeks to comply with OPEC's agreement to cut oil production by more.
The sources told Reuters that production in March fell more than 210 thousand barrels per day, the size of the required reduction from Iraq in the OPEC agreement.
He added that the production from the Rumaila fields, the largest country fell by about 70 thousand barrels currently to 1.38 million due to maintenance work.
And a follower that Iraq cut about 210 thousand barrels per day from the southern fields that operate international oil companies and other fields operated by national oil companies.
He said that the sources of production from the north came down by about 30 to 40 thousand barrels since the beginning of March, compared to February.
The Oil Minister Ali Jabbar Luaibi said on Saturday told reporters in Kuwait, where he meets a committee on monitoring production cuts, that Iraq is fully committed to the agreement Oopk.