Iraqi production robust, despite OPEC deal
As OPEC members reaffirm a quota agreement, Iraq has posted two straight months of elevated production.
Deputy Oil Minister Fayadh Nema (center left) and Basra Oil Company Director General Ihssan Ismaael (on Nema's left) attend a ceremony on July 15, 2019, marking one year since Royal Dutch Shell exited the project and Basra Oil Company took over as operator. (JASSIM AL-JABIRI/Iraq Oil Report)
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Iraq’s oil production remained strong in June, signaling a sustained recovery in output after a brief springtime reduction.
Since then, Iraq has been under pressure both to lower and to raise production. OPEC members have insisted that all countries should comply with their quotas, while the U.S. has been lobbying for more production to keep global prices in check while sanctions reduce the supply of Iranian oil.
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