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Iraq cuts oil exports to 3.5 million bpd in line with OPEC deal – Mr Ghadhban

Gasoil News - Published on Mon, 18 Mar 2019

Image Source: Wall Street Journal
Reuters cited, Mr Thamer Ghadhban, Iraq oil minister, as saying that Iraq has cut its oil exports average to 3.5 million barrels per day in compliance with an ongoing production curb agreement. An OPEC meeting in Vienna in April would assess member states' compliance with agreed production cuts and whether to extend the curbs until the end of the year. Iraq exported on average around 3.6 million bpd in January-February, and 3.7 million in December.

Mr Ghadhban said that Iraq is committed to the deal and working to stabilise markets, and is producing slightly more than 4.5 million bpd, below its full capacity of nearly 5 million.

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Posted By : Rabi Wangkhem on Mon, 18 Mar 2019
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