July 5, 2020

Iraq agrees with oil companies on deeper output cuts in June – sources

[ad_1]

Iraq agrees with oil companies on deeper output cuts in June - sourcesIraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday. Baghdad aims to improve its compliance with its output cut targets under a global deal with OPEC and its allies to reduce oil supply. Iraq has agreed with Russia’s Lukoil to start an additional cut of 50,000 barrels per day (bpd) as of June 13 to lower production from the West Qurna 2 field to around 275,000 bpd.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *