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July production falls to five-year low as Iraq pledges deeper OPEC cuts

July production falls to five-year low as Iraq pledges deeper OPEC cuts
July production falls to five-year low as Iraq pledges deeper OPEC cuts

2020-08-18 00:00:00 - From: Iraq Oil Report


Iraq's monthly oil production fell in July by nearly 200,000 barrels per day (bpd) as the country continues to pursue compliance with an OPEC-plus agreement.

Nationwide output at fields controlled by the federal government and semi-autonomous Kurdistan Regional Government (KRG) averaged a combined 3.73 million bpd, down from 3.91 million bpd in June, according to an Iraq Oil Report analysis based on data from each of the country's producing fields* — the first time Iraq produced under 4 million bpd since 2015.

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July production falls to five-year low as Iraq pledges deeper OPEC cuts