Iraq produces well below its OPEC+ crude quota in January

Iraq pumped 4.16 million barrels per day (bpd) of oil in January, below its allowed limit of 4.28 million bpd under a pact with other so-called OPEC+ producers, data from state-owned marketer SOMO seen by Reuters showed on Thursday.

Report informs that Iraq like several other OPEC members is struggling to pump more even as prices trade at a seven-year high. read more

Its output actually fell by 63,000 bpd from December, the data showed.