Iraq Plays Ball With OPEC as Tanker Tracking Shows Flows Are Cut
- Nation’s shipments decline compared with October level
- Drop doesn’t yet match reduction to which nation committed
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Oil flows out of Iraq suggest that the Middle East country is complying, at least in part, with OPEC’s plan to curb production.
Observed shipments in January were 109,000 barrels a day below October’s level, the month used as a baseline for the Organization of Petroleum Exporting Countries’ reductions plan. That indicates that Iraq has implemented around half of the production cut it agreed as part of the accord, assuming flows provide an indication of output.