DUBAI, UAE - Iraq's average oil exports reached 3.48 million barrels per day in July, according to the Ministry of Oil. The total for the month was 108.05 million barrels.

Exports from oil fields in central and southern Iraq accounted for approximately 106.12 million barrels, while the Qayyara field contributed 1.93 million barrels.

The ministry affirmed Iraq's commitment to the OPEC+ agreement, indicating it would address any production excesses from earlier this year. The statement referenced secondary sources suggesting that Iraq's output exceeded its OPEC+ quota by 184,000 barrels per day in July.

Iraq will adhere to the agreed production level of 4 million barrels per day for July and future months, and will compensate for earlier production surpluses through September 2025, the ministry said.

Currently, Iraq, the second-largest producer in OPEC after Saudi Arabia, has a production capacity of nearly 5 million barrels per day.

Mid July, Jordanian Minister of Energy and Mineral Resources Saleh Ali Al-Kharabsheh announced that Jordan's imports of Iraqi oil amounted to approximately 5 million barrels from May 4, 2023, to June 30, 2024.