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OPEC’s Number Two Iraq Misses Goal to Make Up for Quota Breaches

  • Iraq pumped 3.87 million barrels a day of crude last month
  • Arab nation said it would cut oil production to six-year low
Updated on

Iraq missed its own target to slash oil output to a six-year low and make up for breaching its OPEC quota.

The group’s biggest producer after Saudi Arabia pumped 3.87 million barrels of crude a day last month, only 10,000 fewer than in December, according to a Bloomberg survey and tanker-tracking data. Exports were also nearly unchanged at 3.24 million barrels daily.