Iraqi crude output fell to just 3.66mn b/d – its lowest monthly output since February 2015 – last month as the country vied to bring production in line with its 3.59mn b/d quota set in April (MEES, 17 April).

That allocation was due to increase to 3.80mn b/d for August-December, but failure to fully comply means Iraq has to “compensate” by cutting deeper. Production in August and September is meant to average 3.46mn b/d instead (MEES, 7 August). (CONTINUED - 847 WORDS)