Iraq deepens production cuts

Iraq's natoinwide 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 4.38 million bpd of production in October, down from 4.53 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.