In April, Iraq’s total crude oil output remained nearly steady as the country did not boost production following the expiration date of the old Organization of Petroleum Exporting Countries and its allies (OPEC+) oil production cuts in March.
According to state oil marketer SOMO, oil production was at 4.48 million bpd last month, from 4.5 million bpd in March. Exports slumped by 3.85 million bpd in the month, from 3.87 million bpd in the previous month.
The figures showed the Kurdish region in the northern part of the country.
Among OPEC members, Iraq took the biggest hit to its production in April due to low fuel demand and limited product storage space. The country lost 110,000 bpd.
Other than that, Iraq had to close its 90,000 bpd Al Gharraf oil field since mid-March due to the coronavirus pandemic, as Petronas, the operator, evacuated the Malaysian staffs from the site.
On a related note, last week the Iraqi parliament granted a vote of confidence to the new cabinet of Prime Minister Mustafa Al Kadhimi but delayed the oil minister vote.
Kadhimi said he would discuss the pending terms of technical service contracts with international oil firms operating Iraq’s biggest fields in the south.
