March production drops steeply
A perfect storm of factors — OPEC cuts, bad weather in the Basra Gulf, and flooding — caused Iraq’s output to fall by more than 4 percent.
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UPDATE: In an earlier version of this story, Iraq Oil Report’s estimate of March production was 4.618 million bpd. After further reporting, the estimate has risen slightly to 4.644 million bpd.
BAGHDAD - Iraq’s oil output continued a downward trend in March, falling by 210,000 barrels per day compared to February to the lowest production levels in five months.
The steep drop was a result of several factors, including measures taken by the Oil Ministry to reduce output in state-run fields in line with an OPEC agreement, and also unplanned interruptions due to bad weather in southern Iraq.
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