Iraq's oil exports have increased in July. As of The Last Day 29, exports from Basra and other terminals in the south of the country reached an average of 2.75 million barrels per day (bpd), according to data from Refinitiv Eikon and an industry source.
The figure, which represents an increase of 50,000 bpd from the official June figure, suggests that the country is still below its production cut target under the OPEC-led agreement. The organization's second-largest producer was expected to cut production by 1.06 million bpd.
However, Iraq says it is committed to the agreement and says it will increase the level of compliance with the cuts.