IRAQ DATA: Oil production increases 1% in June, slightly above OPEC+ quota

Iraq's oil production rose 1% in June from a month earlier, figures from state oil marketer SOMO showed July 7, as the country pumped slightly above its OPEC+ quota.

Total oil production, including flows from the semi-autonomous Kurdistan region, reached 4.515 million b/d in June, up from 4.470 million b/d in May, according to SOMO data.

OPEC's second-biggest producer had a 4.509 million b/d quota for June, up from 4.461 million b/d in May. Its quota for July is 4.580 million b/d.

SOMO didn't give a breakdown of oil production from federal Iraq and Kurdistan and didn't immediately respond to questions about the missing data.

Total oil exports, including Kurdish volumes, fell 1.4% to 3.768 million b/d, the data showed.

Federal oil exports rose 2.3 % to 3.373 million b/d, while Kurdish export fell 4.8% to 395,000 b/d, the data showed.

Iraq has in previous months mostly pumped below its quota.

OPEC+ ministers on June 30 reaffirmed plans for a nominal 648,000 b/d production rise in August as questions continue to swirl about how much crude oil the group will be able and willing to pump in the months ahead.

Delegates told S&P Global that ministers did not discuss any output targets beyond that, leaving that decision until their next meeting Aug. 3, roughly two weeks after US President Joe Biden is set to make a high stakes trip to Saudi Arabia for a summit with Gulf leaders.