Iraq orders new OPEC cuts targeting IOC fields
A comprehensive survey of Iraqi fields suggests the Oil Ministry is targeting about 600,000 bpd of production cuts in May, mostly from fields contracted to international oil companies.
South Oil Company workers look toward the flares in the Zubair oil field on Jan. 21, 2010, the day before Eni, Occidental and Kogas signed the contract to develop the field. (ESSAM AL-SUDANI/AFP/Getty Images)
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