Headlines from the Iraq oil minister
– Has cut by 180K bpd
– Will cut another 30K bpd by month end to fully comply
– 90% of cuts from government fields but Kurdistan also reducing
Current production is around 4.2 mbpd so that’s a nearly 50% increase in the long-term. Of course, wanting to do that and getting it done are two very different things.
Iraq says it’s close to fully implementing OPEC cut but wants to produce 50% more in the long term
ByAdam Button
Jan 23, 2017