![](https://i.imgur.com/CLvY2jA.png")
06-04-2022, 09:01 AM
By Tsvetana Paraskova - Apr 05, 2022, 8:40 AM CDT
OPEC’s second-largest producer, Iraq, produced just 4.15 million barrels per day (bpd) of crude oil in March, well below its quota under the OPEC+ agreement, according to data from Iraqi state oil marketing firm SOMO seen by Reuters.
......
Iraq’s production ...... was more than 220,000 bpd short of that target, signaling that a growing number of members of the OPEC+ alliance are struggling and will be struggling to pump to quotas as the group lifts its nominal production targets each month by 400,000 bpd.
......
Saudi Arabia’s production quota has been lifted to 10.549 million bpd, with Russia’s quota raised to the same amount. The UAE’s quota is 3.04 million bpd, Kuwait’s is 2,694 million bpd, while Iraq’s is 4.461 million bpd.
......
Yet, the latest data showed that most OPEC members continue to underperform in reaching their agreed-upon targets, leaving a much wider supply gap in the market than many estimates had forecast.
https://oilprice.com/Energy/Crude-Oil/Ir...March.html
OPEC’s second-largest producer, Iraq, produced just 4.15 million barrels per day (bpd) of crude oil in March, well below its quota under the OPEC+ agreement, according to data from Iraqi state oil marketing firm SOMO seen by Reuters.
......
Iraq’s production ...... was more than 220,000 bpd short of that target, signaling that a growing number of members of the OPEC+ alliance are struggling and will be struggling to pump to quotas as the group lifts its nominal production targets each month by 400,000 bpd.
......
Saudi Arabia’s production quota has been lifted to 10.549 million bpd, with Russia’s quota raised to the same amount. The UAE’s quota is 3.04 million bpd, Kuwait’s is 2,694 million bpd, while Iraq’s is 4.461 million bpd.
......
Yet, the latest data showed that most OPEC members continue to underperform in reaching their agreed-upon targets, leaving a much wider supply gap in the market than many estimates had forecast.
https://oilprice.com/Energy/Crude-Oil/Ir...March.html
