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Iraq: Baghdad struggles to whet IOC appetites

Iraq is on course to breach the 5m barrel-a-day (b/d) level later this year as new southern production increments come on stream, continuing the steady improvement in the country’s production profile witnessed in recent years. Iraq pumped a record 4.82m b/d in May, some 300,000 b/d above its Opec output quota -- for which Oil Minister and deputy prime minister Thamer Ghadhban is pleading understanding from fellow cartel ministers. Exports are averaging 3.5m b/d.

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