Iraq, OPEC's second-largest producer, is committed to its voluntary oil production cut and will produce no more than 4 million bpd.
OPEC’s second-largest producer, Iraq, is committed to its voluntary cut in the OPEC agreement and will produce no more than 4 million barrels per day bpd of crude oil, Iraq’s Oil Minister Hayan Abdel-Ghani said on Monday. Iraq, which pumped 4.292 million bpd in December, per OPEC’s secondary sources, is one of several OPEC producers who pledged at the end of November to make voluntary cuts to their crude oil production in the first quarter of 2024.
The minister also commented on the nearly year-long halt to crude exports from northern Iraq and its semi-autonomous region of Kurdistan and when these exports could be expected to resume. “Resumption of exports from the Kurdistan region is linked to the resumption of production from the fields in the region. Talks with the companies operating in the region are on their way to reach a resolution in the near future,” Abdel-Ghani said, as carried by Reuters.
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