Editorial date: 2019/3/14 16:40
BAGHDAD (Reuters) – Iraq has cut its average crude exports to 3.5 million barrels per day (bpd) under a deal to cut output, Oil Minister Thamer Ghadhban said on Thursday.
“The OPEC meeting in Vienna in April will consider the extent to which member countries are committed to agreed production cuts and whether the year-end reductions should be extended,” Ghadhban told reporters.
Iraq exported about 3.6 million barrels per day on average in January and February, and 3.7 million in December.
Ghadban added that Iraq is committed to the agreement and works to stabilize the markets, and that it produces slightly more than 4.5 million barrels per day, which is less than the full capacity of about five million.
“We do not want sharp price fluctuations because this affects producers and consumers,” he said.
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