Iraq will have to cut production from fields operated by international oil companies to comply with the new OPEC+ pact, but the country’s 1.061 million b/d output reduction in May and June will test its contractual obligations with those companies including ExxonMobil and BP, analysts said. Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC’s second-largest oil producer is likely to start cutting output from the smaller, government-operated fields and then move on to IOC ones, most of which are in the south and are among the biggest fields in the country. “Iraq’s compliance target – just over 1m b/d – is unlikely to be met for a number of reasons: cuts to IOC-operated fields such as BP’s Rumaila would mean Iraq […]