Iraq produced 4.23 million barrels per day (bpd) of oil in December, up by 17,000 bpd from November, according to production data from state-owned marketer SOMO seen by Reuters.

The production figure includes output from Iraq’s semi-autonomous Kurdistan region, which produced 406,000 bpd last month, the data showed.

Under the OPEC+ agreement, Iraq’s crude production ceiling was 4.24 mln bpd for December.

This places Iraqi compliance under the deal at 102% last month, SOMO’s figures show.

OPEC+, a grouping of the Organization of the Petroleum Exporting Countries and allies led by Russia, uses an average of secondary source production figures to determine compliance levels for each member country.
Source: Reuters (Reporting by Rowena Edwards Editing by Jason Neely and David Goodman )