• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 1 min EU has already lost the Trump vs. EU Trade War
  • 1 day Crazy Stories From Round The World
  • 1 day Science: Only correct if it fits the popular narrative
  • 1 day Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 1 day Everything You Need To Know About Trump
  • 8 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 15 hours IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 5 mins Water, Trump, and Israel’s National Security
  • 17 hours ‘If it saves a life’: Power cut to 1.5 million Californians
  • 1 day Impeachment Nonsense
  • 2 days What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 2 days Do The World's Energy Policies Make Sense?
Alt Text

Has Global Oil Production Really Peaked?

The lack of significant new…

Alt Text

The World’s Most Vulnerable Oil

The modern geopolitical landscape is…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

OPEC’s No.2 Boosted Production, Exports Just Before Cuts Began

Iraq increased in December both its oil production and exports, just ahead of the start of the new round of OPEC cuts, but OPEC’s second-largest producer says that it will be sticking to its pledge to reduce output as agreed.

According to data from Iraq's State Oil Marketing Organization (SOMO), as carried by S&P Global Platts, the total Iraqi oil exports in December—including those from the semi-autonomous region of Kurdistan—rose by 33,000 bpd from November to December, and stood at 4.14 million bpd last month, compared to a total of 3.81 million bpd exports from Iraq and Kurdistan in November. 

Production from Iraq and Kurdistan inched up by 10,000 bpd from November to average 4.465 million bpd in December, data from SOMO showed.

According to Iraq’s oil ministry data from last week, Iraq’s federal oil exports jumped to 3.726 million bpd in December from 3.372 million bpd in November, as exports from the southern ports at Basra hit a record high and exports from the northern Kirkuk fields increased after a slow tentative resumption in November following a year-long hiatus.

But as January began, Iraq vowed last week to stick to the production cuts agreed to by OPEC and its allies.

OPEC’s second-biggest producer will hold its production at 4.513 million barrels per day for the next six months, according to the Iraqi Oil Ministry, as cited by S&P Global Platts. If achieved, Iraq would produce 140,000 fewer barrels per day for the next six months than it did in October 2018—the date from which the cuts were calculated.

The news comes after Kpler and Refinitive Eikon data showed earlier last week that Iraq increased its oil exports to the United States in December by 140,000 barrels per day.

Iraq’s commitment to the latest deal is critical to the cartel’s success, and not just because it is OPEC’s second largest producer. In the first round of production cuts, Iraq was the largest overproducer and least compliant member of the group.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play