Baghdad – WAA
The Ministry of Oil announced Iraq’s commitment to the OPEC agreement and voluntary cuts.
The ministry stated in a statement received by the (INA), “Referring to the estimates of secondary sources regarding Iraq’s increase in production from the quota stipulated in the OPEC agreement and the countries allied with it in the Declaration of Cooperation by 184 thousand barrels/day for the month of June 2024, Iraq confirms its full commitment to the agreement and to the voluntary reductions and to compensate for any surplus in production since the beginning of 2024.”
The ministry added that it “will adhere to the production level required in the agreement, which amounts to 4 million barrels per day for the month of July and the coming months, in addition to compensating for the surplus in production since the beginning of the year during the compensation period, which extends until the end of September 2025.”