Iraq's July output fall raises eyebrows

摘要

Iraq's monthly crude oil output dropped to its lowest so far this year, averaging 4.4 million b/d in July, down 150,000 b/d from June, the latest data from OPEC's second largest producer showed Monday. The July figure is just 50,000 b/d higher than the production ceiling agreed under OPEC's oil output cut deal last November. That 4.351 million b/d ceiling itself was a cut of 210,000 b/d from the secondary source estimate of its production in the base month of October 2016.