Iraq cuts oil output ahead of OPEC+ move
Shafaq News/ Iraq has reduced its oil production ahead of planned supply increases by the OPEC+ alliance, according to a Bloomberg survey.
OPEC+, led by Saudi Arabia and Russia, is scheduled to begin increasing output this month following extended voluntary cuts intended to support global oil prices. The adjustments follow calls from major consumers to stabilize markets, including public remarks by US President Donald Trump urging the group to “lower oil prices.”
According to the survey, Iraq cut production by 40,000 barrels per day (bpd) in March, bringing output to 4.15 million bpd, remaining above the country’s official ceiling of 4 million bpd. Iraq has made limited progress on additional reductions pledged to compensate for earlier overproduction.
Total OPEC output fell by 110,000 bpd in March, reaching 27.43 million bpd. The group has emphasized stricter compliance with production targets, following continued overproduction by several member states.
Nigeria posted the largest monthly cut, the survey said, reducing production by 50,000 bpd to 1.5 million bpd following shipment delays linked to a fire on the Trans-Niger pipeline affecting Bonny Light crude.
Meanwhile, the United Arab Emirates increased output by 30,000 bpd to 3.33 million bpd, further exceeding its quota.
Some OPEC+ delegates expressed concern over repeated non-compliance by member states including Kazakhstan, as the group prepares to revise its production strategy in response to changing global demand.
