Iraq's oil output drops to 3.94 Million bpd in September: Official

Shafaq News/ Iraq's oil production dropped to 3.94 million barrels per day (bpd) in September, falling below its OPEC+ quota of approximately 4 million bpd, an Iraqi official said on Saturday. The decline comes as Baghdad seeks to strengthen its adherence to its production target, according to Reuters.

The figure contrasts with a Reuters survey on October 3, which reported that Iraq had exceeded its quota by 90,000 bpd in September.

When asked about the survey, the official, who spoke on the condition of anonymity to Reuters, attributed the lower production to decreased exports, reduced domestic consumption, and lower output from the Kurdistan Region.

Since the halt of oil exports from the Kurdistan Region on March 24, 2023, the Federal Ministry of Oil has compensated for the region’s 400,000 barrels per day by increasing output from southern provinces to maintain Iraq's OPEC export ceiling.