Iraq News - Local News - Baghdadpost

Iraq's southern oil exports average 3.482 mln bpd so far in August

Majnoon oil field

Iraq crude oil exports from its southern ports on the Gulf stand at around 3.482 million barrels per day (bpd) so far in August, two oil officials said on Thursday.

Exports from the southern Basra terminals reached 3.435 million bpd in July, up from 3.39 million bpd in the previous month.

Iraq is producing below its maximum capacity of nearly 5 million bpd, in line with a production-cutting agreement between OPEC and other producers such as Russia aimed at supporting prices.