Iraq’s August oil export down by 6%

According to a statement made on Sept. 1st by the Iraqi oil ministry, oil exports have fallen to 2.597 million b/d in August from 2.763 million b/d in July, a 6% decrease. The drop in exports comes after Iraq has pledged to cut an extra 400,000 b/d in the month of August and in September to make up for overproduction in May through July.