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Iraq’s Oil Production Drops But Exports Still Set To Rise

Oil

Iraq has reduced its oil production by 160K b/d as it aims to meet an agreed adjustment of 210K b/d, according to the country’s Oil Minister Ali Jabbar Allaibi. For reference, Iraq’s oil production averaged 4.6M b/d in November (the latest month which data is available for), International Energy Agency data shows. However, despite the decline newswires report that Iraq’s exports are set to continue rising with February volumes from Basrah expected at a record 3.6M b/d, up from record December exports of 3.5M b/d.