OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started taking its obligations seriously. Iraq’s State Oil Marketing Organization (SOMO) has asked some of the Asian buyers of its Basrah crude grades if they could give up delivery of some already contracted cargoes for loading this month and next, sources familiar with the matter told Bloomberg News on Tuesday. The request for buyers to forgo some cargoes for those months suggests that this time, Iraq may be earnest in its attempt to play ball in the OPEC+ production cuts, after being the biggest cheater in all previous pacts. Iraq’s (as well as Nigeria’s) non-compliance with the record OPEC+ cuts in May nearly wrecked last week’s meeting of the pact, ahead of which the two leaders of the group, Saudi […]