Iraq exports plunge toward OPEC compliance
Countrywide oil sales dropped by 11 percent, but higher oil prices – buoyed by an OPEC-plus quota agreement – yielded monthly revenue gains.
A worker stands at the al-Basra Oil Terminal (ABOT), one of Iraq's major export outlets, February 2010. (BEN LANDO/Iraq Oil Report)
Iraq's federal government and semi-autonomous Kurdistan Regional Government (KRG) both cut exports in June, reflecting a drop in production that is bringing the country toward compliance with its OPEC quota.
The countrywide monthly export average dropped by 11 percent, from 3.634 million barrels per day (bpd) in May to 3.217 million bpd in June.
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