Iraq's oil minister said on Monday Baghdad was committed to complying with oil output curbs under an OPEC-led supply deal and that his country's production levels stand at 4.6 million barrels per day (bpd).
“We are definitely committed to respect (the curbs)...our exports have decreased by at least 150,000 bpd from the south,” Minister Thamer Ghadhban told reporters in Abu Dhabi when asked about Iraq's compliance levels.
He said it was too early to talk about whether there was a need to deepen cuts under the deal between the Organization of the Petroleum Exporting Countries (OPEC) and its allies.
Iraqi crude oil exports rose to 3.603 million bpd in August, from July’s export of 3.566 million bpd.
Iraq is producing below its capacity of nearly 5 million bpd, in line with a production-cutting agreement between OPEC and allies such as Russia to support prices.