Iraq may struggle to lower output as Opec expresses concerns over the country’s slim compliance with its production quota. Iraq has hit its output target just once since rejoining Opec’s production restraint framework in 2017 - when heavy weather disrupted loadings from its Mideast Gulf terminals in March (see graph). Baghdad has a detailed plan to reach full compliance with its 4.51mn b/d quota by December, which oil minister Thamir Ghadhban presented to the most recent meeting of the Joint Ministerial Monitor- ing Committee (JMMC) in Abu Dhabi on 12 September.
展开▼
