Iraq’s South Oil Exports Said to Fall From Record on OPEC Cuts
- Country’s total exports fell to 3.323 million barrels a day
- Iraq reducing output after deal with OPEC, other producers
An engineer walks across the Zubair oil field in southern Iraq on January 21, 2010. Zubair produces around 227,000 barrels of oil per day, according to information released by Iraq's oil ministry last year, and has reserves of around four billion barrels. A consortium led by Italian energy giant ENI -including China's Sinopec, Occidental Petroleum Corporation of the United States and Korea Gas Corporation of South Korea- have agreed to terms with the Iraqi government to exploit the Zubair. AFP PHOTO / ESSAM AL-SUDANI (Photo credit should read ESSAM -AL-SUDANI/AFP/Getty Images)
Photographer: Essam Al-Sudani/AFP via Getty ImagesIraq’s southern crude oil exports dropped in January from a record high a month before as the country implements output cuts agreed by OPEC and other major producers to curb the global glut.
The nation’s exports decreased 187,000 barrels a day to 3.323 million barrels a day in January from the previous month, according to a person familiar with the matter, who didn’t want to be identified because the data isn’t public. The Oil Ministry’s spokesman couldn’t immediately be reached on Friday, which is a weekly holiday in Iraq.