Production falls as Iraq moves toward OPEC compliance
After hitting record levels in August and early September, the Oil Ministry has reduced output to help support global prices.
A Basra Gas Company worker at the Nahr Bin Omar oil field takes part in the opening of a new pipeline sending gas to the national network on Jan. 12, 2017. (JASSIM AL-JABIRI/Iraq Oil Report)
Iraq has throttled back its crude production since setting an all-time record in August, averaging 4.79 million barrels per day (bpd) in September. *
The month-on-month reduction of about 175,000 bpd comes after Oil Minister Thamir Ghadhban promised OPEC members that Iraq would move back toward compliance with a quota designed to buoy global crude prices.
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