# Iraq will cut oil production, comply with OPEC this month: Minister

> Iraq's oil minister said the country would immediately cut production to comply with OPEC quotas after months of overproduction. Iraq had reported record output of 4.6 million bpd in August. The commitment follows the December agreement with OPEC and non-OPEC members.

- Date: 2019-09-10 · published 2019-09-10T12:00:00.000Z
- Category: policy · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/57008-iraq-will-cut-oil-production-comply-with-opec-this-month-minister
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A cut of Iraqi output from record levels tightens global crude supply and supports prices. Higher crude costs pass through to diesel, freight and energy inputs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-09-05 | [Oil: OPEC+ surprises energy markets with a small production cut](https://feedsoft.ai/events/39517-oil-opec-surprises-energy-markets-with-a-small-production-cut.md) | +1.0% | -3.7% |
| WTI | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -9.5% | +9.1% |
| WTI | 2020-09-17 | [Oil reverses losses to gain 2% as OPEC urges compliance with production cuts](https://feedsoft.ai/events/51278-oil-reverses-losses-to-gain-2-as-opec-urges-compliance-with-production-cuts.md) | -0.6% | +1.9% |
| WTI | 2016-11-30 | [Oil Surges on OPEC Deal to Cut Production - WSJ](https://feedsoft.ai/events/73786-oil-surges-on-opec-deal-to-cut-production-wsj.md) | +12.5% | +19.3% |
| WTI | 2016-11-30 | [OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers](https://feedsoft.ai/events/8568-opec-reaches-agreement-to-cut-oil-production-to-32-5-million-barrels-a-day-oil.md) | +12.5% | +19.3% |
| BRENT | 2022-09-05 | [Oil: OPEC+ surprises energy markets with a small production cut](https://feedsoft.ai/events/39517-oil-opec-surprises-energy-markets-with-a-small-production-cut.md) | -0.9% | -5.0% |
| BRENT | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -8.9% | +7.8% |
| BRENT | 2020-09-17 | [Oil reverses losses to gain 2% as OPEC urges compliance with production cuts](https://feedsoft.ai/events/51278-oil-reverses-losses-to-gain-2-as-opec-urges-compliance-with-production-cuts.md) | -0.7% | +2.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/09/10/iraq-will-cut-oil-production-comply-with-opec-this-month-minister.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.