Iraqi oil exports down
Baku, Azerbaijan, Aug.18
By Leman Zeynalova – Trend:
Oil exports from Iraq in June fell by 47,000 barrels per day month-on-month, according to the report of the Joint Organizations Data Initiative (JODI).
The country exported 3.771 million barrels of oil per day in June, as compared to 3.818 million barrels per day in May 2017, the JODI data shows.
The lowest level of crude export from Iraq so far this year has been recorded in April at 3.754 million barrels per day.
Moreover, Iraq’s crude output stood at 4.550 million barrels per day in June, as compared to 4.564 million barrels per day in May.
Iraq has undertaken the second largest cut in oil output after Saudi Arabia among the participants of the OPEC deal signed last year in Vienna.
On May 25, OPEC member countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan agreed to extend the production adjustments for a further period of nine months, with effect from July 1, 2017.
The reductions will be on the same terms as those agreed in November.
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