Iraq to cut extra 400,000 b/d to compensate for overproduction

摘要

Dubai-Iraq will cut an extra 400,000 b/d in August to compensate for overproduction in the previous three months, the state oil marketer said Aug. 6, amid signs OPEC’s second-largest oil producer continues to face challenges in adhering to OPEC+ cuts. “Iraq’s plan is to make an additional cut of around (400) kbd in its oil production during the month of August as a compensation to the missed performance in the past period of the OPEC+ agreement,” SOMO said in a statement. “The said cut will be over and above the agreed cut for the aforementioned month.”