Is Iraq Finally Complying With The OPEC+ Oil Output Deal?

OPEC’s second-largest producer, Iraq, which is also the least compliant member of OPEC+, has made significant cuts in its crude oil exports so far in June, in a move suggesting that it is improving its compliance with the record production cuts.  Exports from Iraq fell by 300,000 barrels per day (bpd), or by 8 percent, in the first two weeks of June compared to May, Reuters reported on Tuesday, quoting industry sources and ship-tracking data. Exports from the southern port of Basrah, Iraq’s main oil export terminal, have dropped…