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Iraq Lowers Southern Field Output to Meet OPEC Targets

OIL

Iraq lowers oil output from southern fields in line with OPEC+ cuts according to the oil minister on 19 March

  • Iraq has asked international oil companies operating in the south to cut their output to help meet OPEC+ quota production targets. Iraq has a current OPEC quota of 4.431mbpd.
  • Iraq produced 4.33mbpd in February, down from 4.48mbpd in January according to the latest Platts survey.
  • The ministry has plans to boost its oil exports if OPEC+ decides to ramp up its production, the minister added. The ministry plans to offer new exploration and production licenses this year as it seeks to boost the country's oil and gas output.
Energy BulletsCommodities
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