OPEC-plus concern keeps lid on May production growth
Nationwide crude output is far below developed capacity due to the ongoing northern pipeline outage, southern infrastructure constraints, and — most acutely — quota pressure from OPEC-plus.
Workers with the state-run Iraqi Drilling Company drill a well at the Zubair oil field in June 2024. (Photo credit: IDC media)
Iraqi oil production ticked up slightly in May* but stayed well below recent highs as the Oil Ministry continues to feel pressure from OPEC-plus.
The output growth came mostly from the Zubair field in Basra, which went from 432,000 barrels per day (bpd) in April to 465,000 bpd in May, and from the state-run Luhais field in Basra, which had cut production to just 4,000 bpd in April and then rebounded to 32,000 bpd in May.
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