CAIRO, Sept 5 (Reuters) - Iraq cut its oil exports to 3.3 million barrels per day (bpd) as of Aug. 27 and will keep this reduction during the upcoming months in line with the country's commitment to the OPEC+ agreement, the Iraqi oil ministry said on Thursday.

OPEC's second-largest producer said it is reducing crude exports to ensure output is within its OPEC+ specified quota and compensate for additional quantities produced during previous months.

The reduction also includes cutting domestic consumption, the ministry added in a statement.

Iraq's crude exports had averaged 3.48 million bpd in July and 3.41 million bpd in June.

In August, a source told Reuters that Iraq has planned to reduce its oil output to between 3.85 million and 3.9 million bpd in September.

Earlier on Thursday, OPEC+ agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in nine months, adding it could further pause or reverse the hikes if needed.

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https://www.reuters.com/business/energy/iraq-cuts-oil-exports-33-million-bpd-aug-27-2024-09-05/