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OIL: Iraq to Compensate for OPEC Overproduction Until Sept 2025

OIL

Iraq's oil ministry said the country will compensate for oil overproduction compared to OPEC+ targets until the end of September 2025.

  • A statement said Iraq will adhere to the 4mb/d production quota level for July and for the coming months and reiterated its commitment to the DoC agreement and voluntary targets.
  • The compensation is for any overproduction since the beginning of 2024.
  • Overproduction was estimated at about 18kb/d for June according to secondary sources.

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