Methodology shift clouds output compliance

摘要

Iraqi field-level production data show a drop in output in July but it remains unclear whether Baghdad has increased its compliance with agreed output cuts. Iraq is under pressure to improve its adherence to the production deal struck between Opec and several non-Opec countries last year. Iraqi output was 4.45mn b/d in January-June, making it just over 50pc compliant, compared with Opec's overall compliance rate of more than 100pc, Argus estimates. Production data from Iraq's federal government put output at 4.54mn b/d this year.