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According to Reuters on August 21, two industry sources said that oil exports from southern Iraq are expected to hit another record high this month, further indicating that Iraq, OPEC's second-largest oil producer, is fulfilling OPEC's agreement
to increase production.
Southern Iraq exported an average of 3.
7 million barrels per day of oil in the first 19 days of August, up 160,000 barrels
per day from the existing monthly record of 3.
54 million barrels per day in July, according to vessel tracking data compiled by an industry insider.
Iraq increased oil production after OPEC and its allied producers reached an agreement in June to increase oil supplies
.
Iraq provided the largest increase in July among OPEC members participating in previous cuts since OPEC and its allies cut output in 2017 to eliminate oversupply
.
"We will see that southern Iraq is on track for another record oil export so far this month
," industry sources said on Tuesday.
”
According to Reuters on August 21, two industry sources said that oil exports from southern Iraq are expected to hit another record high this month, further indicating that Iraq, OPEC's second-largest oil producer, is fulfilling OPEC's agreement
to increase production.
Southern Iraq exported an average of 3.
7 million barrels per day of oil in the first 19 days of August, up 160,000 barrels
per day from the existing monthly record of 3.
54 million barrels per day in July, according to vessel tracking data compiled by an industry insider.
Iraq increased oil production after OPEC and its allied producers reached an agreement in June to increase oil supplies
.
Iraq provided the largest increase in July among OPEC members participating in previous cuts since OPEC and its allies cut output in 2017 to eliminate oversupply
.
"We will see that southern Iraq is on track for another record oil export so far this month
," industry sources said on Tuesday.
”