Iraq lowers oil exports
Baku, Azerbaijan, May 22
By Leman Zeynalova – Trend:
Oil exports from Iraq stood at 3.774 million barrels per day in March 2018, as compared to 3.790 million barrels per day in February 2018, according to the report of the Joint Organizations Data Initiative (JODI).
Moreover, Iraq’s crude output remained the same as in January and February 2018 at 4.360 million barrels per day.
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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