July production falls to five-year low as Iraq pledges deeper OPEC cuts

Iraq's monthly oil production fell in July by nearly 200,000 barrels per day (bpd) as the country continues to pursue compliance with an OPEC-plus agreement.

Nationwide output at fields controlled by the federal government and semi-autonomous Kurdistan Regional Government (KRG) averaged a combined 3.73 million bpd, down from 3.91 million bpd in June, according to an Iraq Oil Report analysis based on data from each of the country's producing fields* — the first time Iraq produced under 4 million bpd since 2015.