Iraq has shipped more crude oil abroad so far this month, tanker-tracking data compiled by Bloomberg showed, even though OPEC’s second-largest producer has promised time and again in recent months that it is committed to complying with the OPEC+ production cuts. Between September 1 and 15, Iraq’s crude oil exports stood at 3.26 million barrels per day (bpd), 8 percent higher than the August average, Bloomberg’s estimates show. In August, Iraq’s crude oil exports had dropped to 2.597 million bpd , down from 2.763 million bpd in July. It is not certain that the rising trend in September will continue throughout the rest of the month as shipments tend to be unevenly spread through any given month. Still, the increase in exports, even if part of those exports come from storage, suggests that Iraq is once again above its quota as per the OPEC+ production agreement. Iraq promised additional […]