Baku, Azerbaijan, Oct.20
By Leman Zeynalova – Trend:
Oil exports from Iraq in August rose by 28,000 barrels per day month-on-month, according to the report of the Joint Organizations Data Initiative (JODI).
The country exported 3.789 million barrels of oil per day in August, as compared to 3.761 million barrels per day in July 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 4.380 million barrels per day in August, as compared to 4.400 million barrels per day in July.
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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