Record production continues in January
In light of an OPEC quota agreement, Iraq has made steep cuts at state-run fields, but those reductions are being offset by long-planned increases at IOC-operated projects.
UPDATE: This article has been updated to reflect a slightly more conservative estimate of Iraq’s January production. When it was originally published, this article said overall output was 4.94 million bpd, based on an assumption that the Halfaya field had been producing at 350,000 bpd. Based on new data gathered after publication, Iraq Oil Report now believes that Halfaya’s January production was between 305,000 and 310,000 bpd, causing a downward revision to our overall monthly production estimate, which now stands at 4.90 million bpd.
Iraq sustained record-high oil production in January, despite efforts to begin limiting output in accordance with an OPEC agreement.
The federal government and the autonomous Kurdistan Regional Government (KRG) together produced about 4.90 million barrels per day (bpd) in January - slightly below the country's overall output in December - according to an Iraq Oil Report analysis based on data gathered from each producing field. *
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