Iraq May Seek Extension of 'Catch-Up' Cuts

摘要

Iraq says it may seek a two-month extension of its Opec-plus “catch-up” cuts if it can't attain full compliance with agreed cuts in its oil production by the end of September. After producing above its Opec-plus ceiling in May-July, Iraq agreed to compensate for its overproduction by cutting an additional 400,000 b/d in August and September (OD Aug.31'20). A statement released by the oil ministry late on Wednesday said that Iraq had produced below its agreed ceiling of 3.8 million b/d for August and would continue to do so this month.