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Iraq talks OPEC quota with oil minister, exports are 3.6 mln bpd

Hayan Abdel Ghani, the Iraqi oil minister, said that Iraq was in negotiations with OPEC over its quota within the available capacity of 5.5 millions barrels per day.

In April, the country, OPEC’s largest overproducer submitted plans to further reduce oil production to compensate for pumping beyond agreed quotas.

Abdel-Ghani stated that Iraq was committed to its OPEC quota despite having a larger production capacity. Total oil exports are currently at 3.6 million bpd.

Abdel-Ghani said that the fire which broke out in Zubair's southern oilfield on Sunday has not affected exports. Abdel-Ghani said that exports from Iraq's Kurdistan north region currently reach 195,000 barrels per day, sometimes even 200,000, he added.

After a hiatus of two and a half years, the Kirkuk oil pipeline flow to Ceyhan resumed late September. The first exports were made in October.

(source: Reuters)