Baku, Azerbaijan, Dec.19
By Leman Zeynalova – Trend:
Oil exports from Iraq dropped to 3.765 million barrels per day in October from 3.854 million barrels per day in September 2017, according to the report of the Joint Organizations Data Initiative (JODI).
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 4.360 million barrels per day in October, unchanged from September.
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.
Earlier, OPEC and several other non-OPEC producers reached an agreement to extend the production deal for a further nine months. This would shift the expiration date of the agreement from March to the end of 2018. The agreement is on the same terms as those agreed in November last year.
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