Iraq says it cut output by 300,000 bpd in March, taking production down to an average of 4.464 million barrels per day (mb/d). That puts Iraq at about 98 percent compliance with the OPEC deal. But Iraq’s oil production could fall involuntarily if a dispute between the central government and the Kurdish Regional Government (KRG) continues to escalate. Some of the oil fields around Kirkuk, in northern Iraq, are controlled by the semi-autonomous region of Kurdistan, while others are controlled by the federal government of Iraq. Back in 2014, when ISIS burst onto the scene, territory was quickly swallowed up by the militant group. Amid the chaos, the Kurds swept in and seized parts of territory in and around Kirkuk as the Iraqi government appeared too weak to defend the city and its oil fields. While the bulk of Iraq’s oil is produced from the massive oil fields in […]