Iraqi Oil Output was Below OPEC+ Quota in September, Says Gov't Official

A drone view shows flames emerging from flare stacks at Nahr Bin Umar oil field, in Basra, Iraq June 30, 2024. REUTERS/Mohammed Aty/File Photo
A drone view shows flames emerging from flare stacks at Nahr Bin Umar oil field, in Basra, Iraq June 30, 2024. REUTERS/Mohammed Aty/File Photo
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Iraqi Oil Output was Below OPEC+ Quota in September, Says Gov't Official

A drone view shows flames emerging from flare stacks at Nahr Bin Umar oil field, in Basra, Iraq June 30, 2024. REUTERS/Mohammed Aty/File Photo
A drone view shows flames emerging from flare stacks at Nahr Bin Umar oil field, in Basra, Iraq June 30, 2024. REUTERS/Mohammed Aty/File Photo

Iraq produced 3.94 million barrels per day (bpd) of oil in September, less than its OPEC+ output quota of about 4 million bpd, an Iraqi official said on Saturday, as the country seeks to boost its compliance with the target.

The production figure given by the official, who asked not to be named, contradicts the findings of a Reuters survey published on Oct. 3, which found Iraq had pumped 90,000 bpd more than the quota in September.

Asked about the survey's findings, the official said production had come in below the quota due to lower exports, reduced domestic consumption and a decline in output from the Kurdistan Region.

Iraq planned to reduce it oil output to between 3.85 million and 3.9 million bpd in September as part of a plan to compensate for producing over its quota, a source told Reuters last month.

Iraq, Kazakhstan and Russia said earlier this month that they had delivered on their promised cuts in September.



King Fahd University of Petroleum and Minerals Tops The Times Global Ranking

Saudi Minister of Energy Prince Abdulaziz bin Salman. SPA file photo
Saudi Minister of Energy Prince Abdulaziz bin Salman. SPA file photo
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King Fahd University of Petroleum and Minerals Tops The Times Global Ranking

Saudi Minister of Energy Prince Abdulaziz bin Salman. SPA file photo
Saudi Minister of Energy Prince Abdulaziz bin Salman. SPA file photo

King Fahd University of Petroleum and Minerals (KFUPM) has topped universities in the Middle East and Africa in the Times Higher Education global ranking, becoming the number one institution not only in the Arab world but across the entire Middle East and Africa region.

This achievement surpasses all universities in Saudi Arabia, the Gulf, Türkiye, South Africa, and other countries in the region.

Saudi Energy Minister Prince Abdulaziz bin Salman pledged that KFUPM would serve as a model not only for the Arab and Islamic worlds but also globally in terms of education. He emphasized that the university would set an example in both higher education and undergraduate programs, aligning with Saudi Arabia’s aspirations.

He added: “We used to say that our ambition knows no bounds except the sky. Now, seeing these tangible outcomes, we believe our ambition must reach the sky.”

KFUPM is a Saudi public university that was officially established by royal decree on Sept. 23, 1963.