Iraq lowers oil output, export
Baku, Azerbaijan, Sept.19
By Leman Zeynalova – Trend:
Oil exports from Iraq in July fell by 10,000 barrels per day month-on-month, according to the report of the Joint Organizations Data Initiative (JODI).
The country exported 3.761 million barrels of oil per day in July, as compared to 3.771 million barrels per day in June 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 4.400 million barrels per day in July, as compared to 4.550 million barrels per day in June.
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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