Iraq has exceeded its oil quota. Expert predicts pressure from OPEC+.
Iraq has exceeded its oil quota. Expert predicts pressure from OPEC+.
2025-04-29 06:58
Shafaq News/ Economic expert Nabil Al-Marsoumi revealed on Tuesday that Iraq has exceeded its crude oil production quota by more than 200,000 barrels per day, which could expose it to pressure from the OPEC+ alliance in the coming months.
Al-Marsoumi said in a tweet followed by Shafaq News Agency that Iraq’s oil exports during March reached 3.437 million barrels per day, at a price of $72.5 per barrel, equivalent to a total value of $7.716 billion, or approximately 10 trillion Iraqi dinars.
He pointed out that “these figures suggest that Iraq’s crude oil production has exceeded 5.2 million barrels per day, exceeding the OPEC+ quota by more than 200,000 barrels per day.”
He added that this violation “could lead to additional restrictions on Iraqi production starting in May and the following months, which could further pressure already declining oil prices, especially given the impact of the tariffs imposed by former US President Donald Trump.”
The Iraqi Oil Marketing Company (SOMO) announced today that total oil exports for March exceeded 106 million barrels.
According to official statistics issued by SOMO and reviewed by Shafaq News Agency, total exports from oil fields in central and southern Iraq amounted to 104,740,398 barrels, while exports from the Qayyarah field amounted to 1.613 million barrels, and 309,765 barrels from the Kirkuk fields to Jordan.
shafaq.com
