Bloomberg: Iraq Begins Oil Cuts under OPEC+
According to him, the decline in production began with the West Kurna-2 field. Earlier, the country's oil minister, Tamer al-Gadban, said that from May 1, Iraq will begin to reduce oil production by 22.8% to implement the new agreement adopted under OPEC+.
OPEC+ countries at an emergency video conference on April 12 were able to conclude an agreement to reduce oil production. It provides for a cumulative decrease in oil production in May - June by 9.7 million barrels per day, in July - December - by 7.7 million barrels per day, in January 2021-April 2022 - by 5.8 million barrels per day.