Iraq Calls On Foreign Oil Companies To Cut Production

Iraq’s government has approached international oil companies operating some of its largest oilfields to reduce production further and they have agreed, Reuters reports, citing an unnamed source from the industry. An earlier report by Bloomberg said Baghdad had asked BP, which operates the giant Rumaila field in the southern part of the country, by another 10 percent. Rumaila is Iraq’s biggest oil field and produces some 1.5 million barrels of crude daily. Iraq’s production quota under the latest OPEC+ agreement for production…