Iraq to Cut Oil Exports to Compensate for Output Breach
- Nation previously pumped more than agreed under OPEC+ deal
- Baghdad says it is now adhering to assigned production target
An oil field in Dhi Qar, Iraq.
Photographer: Asaad Niazi/AFP/Getty ImagesThis article is for subscribers only.
Iraq said it will reduce oil exports in the coming months to compensate for producing above its OPEC+ limits in January and February.
The country’s output has been a matter of debate in recent months with data from the Organization of Petroleum Exporting Countries showing Baghdad is above its limit. However, Oil Minister Hayyan Abdul Ghani said this month Iraq is adhering to the assigned target of 4 million barrels a day.