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Iraq Oil Output Jumps

Iraq Oil Output Jumps Iraq Oil Output Jumps

Iraq’s crude oil production rose to its highest level in 13 months in July to 4.46 million bpd, Platts quoted the Iraqi State Oil Marketing Organization as saying on Thursday. Since the fourth quarter of 2017, Iraq has been consistently reporting to OPEC that its production was 4.36 million bpd each month, according to OPEC’s Monthly Oil Market Report, Oil Price reported. According to OPEC’s secondary sources in the July MOMR, Iraq’s oil production jumped by 71,500 bpd in June over May to 4.53 million bpd. This was the second largest increase in OPEC for June, after the Saudi production jump of 405,400 bpd, according to the secondary sources—the ones used by the organization for calculating quotas and compliance.  OPEC’s August MOMR with data for July is due out on August 13. According to the latest Iraq Oil Output Jumps

S&P Global Platts survey, Iraq’s oil production in July was 4.57 million bpd, up by 30,000 bpd from June and around 110,000 bpd above the production that Iraq has reported.

 

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