According to Iraq’s new oil minister Ihsan Abdul-Jabbar Ismail, Iraq will export 2.8 million bpd of oil on average in June. The country will adhere to the Organization of Petroleum Exporting Countries and its non-member oil producer allies (OPEC+)’s oil output cut pact.
To support the government’s complying with the OPEC+ production quota, the government has ordered the Kurdish Regional Government (KRG) in Erbil to export a maximum of 370,000 bpd of crude starting this month.
The KRG will comply after failing in May to provide 250,000 bpd of crude to the federal government.
