SULAIMANI (ESTA) — The head of Iraq’s state-oil marketing company, SOMO, said on Saturday “the OPEC agreement positively affected Iraq”, state news agency INA reported.
Alaa al-Yasiri also said the quantity of oil exported from the Kurdistan Region through the Turkish port of Ceyhan is running at 430,000 barrels per day, according to INA.
He added that SOMO has the capacity to intake the region’s oil that is meant for export, INA said.
Last month, Iraqi Oil Minister Ihsan Abdul Jabbar said the country would remain committed to OPEC’s decisions on oil production.
OPEC and its allies including Russia agreed to ease deep oil production cuts from January by 500,000 bpd, but failed to come to a compromise on a broader policy for the rest of next year.
The increase means the Organization of the Petroleum Exporting Countries (OPEC) and Russia, a group known as OPEC+, are set to reduce production by 7.2 million bpd, or 7% of global demand from January, compared with current cuts of 7.7 million bpd.
