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Iraqi Crude Production Falls 100kbd Below OPEC+ Quota January

OIL

Iraq produced 4.33 million bpd of crude in January, down by 100,000 bpd from the previous month, according to SOMO data.

  • The production figures place Iraq’s output 100,000 bpd below its OPEC+ quota.
  • The production fall followed lower exports from both federal Iraq and the semi-autonomous Kurdistan region as well as weaker internal demand.

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