Iraq’s April crude production rises above OPEC+ quota

Credit: REUTERS/ESSAM AL-SUDANI

Iraq pumped 4.43 million barrels per day (bpd) of oil in April, up by 282,000 bpd from March, according to data from state-owned marketer SOMO seen by Reuters on Wednesday.

By Rowena Edwards

May 11 (Reuters) - Iraq pumped 4.43 million barrels per day (bpd) of oil in April, up by 282,000 bpd from March, according to data from state-owned marketer SOMO seen by Reuters on Wednesday.

According to the production figures, Iraq’s April output was 16,000 bpd above its OPEC+ quota for that month.

The last time Iraq produced above its OPEC+ production quota was in November 2021, its government figures show.

Iraq’s March production was impacted by field outages in the south, pushing its output 222,000 bpd below the production ceiling for that month.

Like several other OPEC members, Iraq has struggled to pump more oil at a time of already tight global supply and soaring prices.

Almost half the global shortfall in planned oil supply by OPEC and its allies - a grouping known as OPEC+ - is down to Nigeria and Angola, due to several factors including the exit by Western oil majors from African projects.

(Reporting by Rowena Edwards; Editing by Chris Reese)

((Rowena.Edwards@thomsonreuters.com;))

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