Iraq’s crude production is steady at 4.46 million b/d in line with its OPEC quota and has not been affected by recent events in OPEC’s second largest oil producer, an oil ministry spokesperson said Thursday. Exports are averaging 3.45 million b/d, Assem Jihad said in a statement. Iraq scaled back its production to a nine-month low of 4.58 million b/d in December, according to the latest S&P Global Platts OPEC survey. The production, though, was still above Iraq’s old quota of 4.51 million b/d under the previous agreement between OPEC and its allies, collectively known as OPEC+. Iraq will need to cut an additional 120,000 b/d to meet its new target of 4.46 million b/d. Iraq flouted its quota for most of 2019, but has pledged to comply better with the new OPEC+ agreement, which […]