Baghdad Asks Kurdistan To Cut Oil Production

The federal Iraqi government has asked the Kurdistan Regional Government to reduce oil production by 120,000 bpd, Reuters reported, citing the Iraqi News Agency. The federal government is negotiating several scenarios for production cuts with the KGR, the report went on to say, as the northern semi-autonomous region produces a sizeable chunk of Iraq’s total oil output and needs to participate in the country’s compensatory cuts, necessitated by its earlier failure to stay within its production quota under the OPEC+ production cut agreement.…