Iraq not keeping oil buyers up to date regarding export cuts
The Opec+ efforts to cut output by 9.7-million bpd will fail without full compliance from Iraq, as well as smaller producers such as Nigeria and Angola
06 May 2020 - 14:56
Baghdad/London — Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an oil cartel Opec deal with Russia and other producers (Opec+) on a record supply cut, traders and industry sources said.
Less than full compliance by Iraq, as well as by smaller producers such as Nigeria and Angola, could hurt Opec+ efforts to cut output by 9.7-million barrels per day (bpd) from May 1, equivalent to about 10% of world demand before the coronavirus crisis led to a slide in consumption and prices...
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