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Iraq produced well below its OPEC+ quota in May, source says

Thursday, 15 June 2023 | 16:00

Iraq produced 3.955 million barrels per day (bpd) of crude oil in May, up 17,000 bpd from April, a source at state-owned marketer SOMO told Reuters on Tuesday.

The May production, according to SOMO, was 265,000 bpd below Iraq’s OPEC+ quota when including pledged additional voluntary cuts.

Iraq’s production has been hit since its northern export pipeline, which carries around 450,000 bpd of crude from the semi-autonomous Kurdistan Region to the Turkish port of Ceyhan,was taken offline on March 25.
Source: Reuters (Reporting by Rowena Edwards; editing by Jason Neely)

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