*BP, Iraq In Talks Over Fate of Rumaila’s Oil Output Capacity Boost To 2.1 Mil B/D*
BP are in talks with the Iraq’s oil ministry over the potential of increasing output in the Rumaila field, the country’s biggest field to the plateau of 2.1 million barrels per day. BP is the lead contractor for the State-owned field, which is currently producing 1.4 million barrels per day. Current obstacles to the increases in output are the weak oil environment with OPEC+ output quotas looking likely to remain at current levels at least into the end of December. (S&P Global Platts)
*Iraq Says October Crude Output Exceeds OPEC+ Quota*
The August to December period output quotas were places at 3.804 million barrels per day, and Iraq pledged to produce below this level for earlier overproduction in the year. Figures have that Iraq adhered to its September target but missed the planned output level by 203,000 barrels per day. (Argus Media)