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Iraq’s crude production fell more than 6 percent in April: Source
Iraq produced 3.938 million barrels per day (bpd) of crude in April, down 262,000 bpd from March, a source at state-owned crude marketer SOMO told Reuters on Tuesday.
This level would mean the country produced almost 500,000 bpd below its April quota under the agreement with the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+.
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The production decline comes after Turkey halted Iraq’s 450,000 bpd of northern exports on March 25 after an arbitration ruling by the International Chamber of Commerce (ICC).
The outage has forced the majority of crude oil production in Iraq’s semi-autonomous Kurdistan region to be shut in.
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