Iraq Requests BP to Cut Production by 10%

Iraq Requests BP to Cut Production by 10%

Iraq has requested that oil supermajor BP cut its crude production by 10% at the southern field of Rumaila as Iraq ramps up efforts to comply with OPEC+ cuts, according to Bloomberg

The deposit, southwest of the oil hub of Basra, produces almost 1.5 million barrels of oil per day (mmbbl/d).

Furthermore, Iraq’s oil minister, Ihsan Abdul Jabbar Ismail, also confirmed that the Iraqi oil ministry had requested Kurdish authorities in northern Iraq to limit their exports to 370,000 bbl/d from the beginning of June.

These requests come against the backdrop of Iraq pledging that it will reduce production after a previous record of poor compliance.  


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