Baghdad: The Ministry of Oil announced today, Friday, that Iraq has reduced its production and oil exports to 3.3 million barrels per day. This decision aligns with Iraq’s commitment to the decisions of OPEC and the allied countries within the Joint Cooperation Agreement regarding the voluntary reduction of oil production.

According to National Iraqi News Agency, the ministry emphasized that this reduction will continue in the coming months to ensure production remains within the agreed limits and to compensate for the surplus produced in previous months. The statement highlighted that this measure aims to enhance balance and stability in global oil markets, further indicating a strategic move by Iraq to align with international efforts to manage oil production levels.