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Iraq Production 4.39mn bpd in May

OIL

Iraq’s oil production rose by just over 100,000 bpd to 4.39mn bpd in May according to the Iraqi Oil Report.

  • It said production was more than 370,000 bpd below January levels because of an OPEC+ quota reduction and the ongoing shutdown of the northern export pipeline to Turkey.
  • The KRG manages oil fields that averaged a combined 438,000 bpd in 2022 that have been impacted by the shutdown with overall production slipping to 111,000 bpd in May.
  • Some projects in the region have been entirely shut in while others have seen significant production reductions.

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