March exports dip as OPEC cuts continue

Top Oil Ministry officials say Iraq is fully complying with an agreement to cut production.
A worker checks the valve gears of pipes linked to oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned pipeline company Botas. (UMIT BEKTAS/Reuters)

BAGHDAD - Iraq is on track to reduce its oil exports for the third straight month in 2017 - a sign of the government's ongoing efforts to cut output in line with an OPEC agreement aimed at boosting the price of oil.

As of March 30, Iraq's State Oil Marketing Organization (SOMO) has sold an average of 3.241 million barrels per day (bpd) for the month, according to SOMO Director General Falah Alamri – a 1 percent decrease from February's export levels, of 3.271 million bpd.

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