Iraq produced well below its OPEC+ oil quota in March – report

The Iraqi flag flutters during the official opening of the second refinery for crude oil in Al-Dora refinery complex in Baghdad on September 16, 2010. (AFP photo)

SULAIMANI (ESTA) — Iraq pumped 4.15 million barrels per day (bpd) of oil in March, according to Reuters.

The amount was 222,000 bpd short of its production quota under an agreement with other OPEC+ producers, Reuters reported, citing data from state-owned marketer SOMO.

Iraq’s March output fell by 112,000 bpd from February, the data showed.

On Friday, the Iraqi oil ministry said it exported 3.244 million bpd in March, generating more than $11 billion.

Iraq sold its crude at an average price of more than $110 per barrel in March, according to the ministry.

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