Iraqi crude production fell in November

Iraq pumped 4.43 million barrels per day (BPD) of crude oil in November, down 221,000 BPD from October, according to data released Thursday by state oil marketer SOMO. Production data showed Iraq produced crude oil in November in line with OPEC quotas. Iraqi Kurdistan produced 41.17 million barrels per day (BPD) in November, the data showed. But Iraq's production figures for the May-October period were lower than SOMO's, according to secondary data used by OPEC's secretariat to determine compliance with the deal.

November's production ceiling of 4.431 million BPD was 220,000 BPD lower than October's. Iraq achieved this by reducing internal consumption by 92,000 b/d and exports by 63,000 b/d, while reducing inventory levels.

In October, Iraq's then-oil minister, Ihsan Abdul Jabbar, said the country was implementing OPEC quota targets by controlling internal consumption in a way that preserves export capacity.