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The Iraqi Ministry of Oil has reiterated its commitment to the OPEC+ agreement and its planned production plan, including production cuts and compensation for surplus production from previous periods.
The ministry stated in a press release that it will adhere to a production level of 4 million barrels per day for July and subsequent months.
It also affirmed its commitment to “compensating for excess production since the beginning of the year” during the compensation period extending to September 2025.
This assurance comes after Iraq exceeded its production quota in June, rising by approximately 184,000 barrels per day above the allocated quota.
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