Iraqi oil output was below OPEC+ quota in September: government official
The production figure given by the official, who asked not to be named, contradicts the findings of a Reuters survey published on Oct. 3, which found Iraq had pumped 90,000 bpd more than the quota in September
Iraq produced 3.94 million barrels per day (bpd) of oil in September, less than its OPEC+ output quota of about 4 million bpd, an Iraqi official said on Saturday, as the country seeks to boost its compliance with the target.
The production figure given by the official, who asked not to be named, contradicts the findings of a Reuters survey published on Oct. 3, which found Iraq had pumped 90,000 bpd more than the quota in September.
Asked about the survey's findings, the official said production had come in below the quota due to lower exports, reduced domestic consumption and a decline in output from the Kurdistan Region.
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Iraq planned to reduce it oil output to between 3.85 million and 3.9 million bpd in September as part of a plan to compensate for producing over its quota, a source told Reuters last month.
Sources have told Reuters that countries' compliance with their quotas was in focus earlier this month at a meeting of top ministers from OPEC+, which groups the de facto Saudi-led Organization of the Petroleum Exporting Countries with allies led by Russia.
The issue of quota compliance is expected to remain high on the OPEC+ agenda in coming weeks, particularly in the case of Iraq and Kazakhstan.
The two countries have promised what are known as compensation cuts of 123,000 bpd in September and more in later months to make up for their previous over-production.
Iraq, Kazakhstan and Russia told the meeting earlier this month that they had delivered on their promised cuts in September, an OPEC statement following the meeting said.
