CORRECTED: Iraq deepens production cuts
The Oil Ministry made major cuts at state-operated fields in October in a bid to answer OPEC-plus concerns over quota compliance.
CORRECTION: Due to an editing error, an earlier version of this story said Iraq Oil Report’s assessment of federal Iraq’s October production was 4.38 million bpd, down from 4.53 million bpd the prior month. In fact, these are the figures for September and August, respectively. The Iraq Oil Report assessment of federal Iraqi October production is actually 4.28 million bpd. The story has been updated accordingly.
Iraq's nationwide oil production has dropped by nearly 300,000 barrels per day (bpd) in the past two months as the country moves toward compliance with OPEC-plus agreements, according to an Iraq Oil Report analysis based on data gathered independently from each producing field. *
Projects managed by the federal Oil Ministry combined for about 4.28 million bpd of production in October, down from 4.38 million bpd the prior month. Fields under the control of the Kurdistan Regional Government (KRG) averaged about 290,000 bpd, down from 330,000 bpd, as intra-Kurdish political disputes caused disruptions to the flow of tanker trucks and reduced local demand.
If you are not a registered user, you may purchase a subscription.
