Iraq has asked BP to cut crude production at the nation\u2019s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private.<\/p>\n\n\n\n
\n\tThe deposit, near the southern oil hub of Basra, produces almost 1.5 million barrels a day, Bloomberg reported.<\/p>\n\n\n\n
\n\tOPEC and its partners decided to reduce production by around 10 million\n barrels daily until at least the end of July to prop up prices. <\/p>\n\n\n\n
\n\tIraq provoked the ire of Saudi Arabia and Russia by missing its target \nin May, when it pumped more than 600,000 barrels a day above its quota \nof 3.6 million barrels, according to data compiled by Bloomberg.<\/p>\n\n\n\n
\n\tIraq and other countries including Nigeria and Angola agreed at an \nOPEC+ meeting on June 6 to start complying and compensate for their \nover-production last month.<\/p>\n\n\n\n
\n\tLast week, Iraq asked some Asian refiners to forgo contracted shipments\n of its crude in the first signal that it\u2019s trying to fulfill its pledge\n to OPEC+.<\/p>\n","protected":false},"excerpt":{"rendered":"
Iraq has asked BP to cut crude production at the nation\u2019s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private. The deposit, near the southern oil hub of Basra, […]<\/p>\n","protected":false},"author":1,"featured_media":3274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8,6],"tags":[1185,574,31,639,213,1184],"yoast_head":"\n