Baghdad announced the 3.3mn b/d export limit last month, representing a 100,000 b/d cut compared with the first-quarter average. April's exports will be in line with recent months, according to the sources, indicating that Iraq has yet to adhere to the cap. The self-imposed limit on exports is part of Iraq's commitment to compensate for exceeding its 4mn b/d Opec+ production target in the first three months of 2024. It produced 211,000 b/d above target in January, then overshot by 217,000 b/d and 194,000 b/d in February and March, respectively, according to an average of secondary sources including Argus. Prior to ... (full story)