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Iraq Remains Committed to OPEC+ Deal to Cap Oil Output at 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. Iraq announced a production cut of 223,000 bpd between January 1 and March 31, 2024. “Afterwards, in order to support market stability, these voluntary cuts ... (full story)
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- Posted: Feb 12, 2024 5:40pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 241
