Iraq's oil output drops to 3.94 Million bpd in September: Official
Shafaq News/Iraq's oil production dropped to 3.94 million barrels per day (bpd) inSeptember, falling below its OPEC+ quota of approximately 4 million bpd, anIraqi official said on Saturday. The decline comes as Baghdad seeks tostrengthen its adherence to its production target, according to Reuters.
The figure contrastswith a Reuters survey on October 3, which reported that Iraq had exceeded itsquota by 90,000 bpd in September.
When askedabout the survey, the official, who spoke on the condition of anonymity toReuters, attributed the lower production to decreased exports, reduced domesticconsumption, and lower output from the Kurdistan Region.
Since thehalt of oil exports from the Kurdistan Region on March 24, 2023, the FederalMinistry of Oil has compensated for the region’s 400,000 barrels per day byincreasing output from southern provinces to maintain Iraq's OPEC exportceiling.
