Iraq is planning to reduce its oil supply volumes under the OPEC+ agreement on production curbs. Currently, Baghdad aims to improve its compliance with the set output cuts target. Iraqi officials have agreed with major oil companies operating in the country to reduce crude production further in June. Earlier, Baghdad and Russia’s Lukoil decided to implement an additional cut of 50,000 barrels per day starting from June 13. This should lower production from the West Qurna 2 field to around 275,000 barrels per day. Notably, in April this year production from this oilfield totaled 395,000 barrels per day. In May, Lukoil cut its output by 70,000 barrels per day in response to a request from Iraq’s oil ministry, experts said. Also, the Iraqi state-owned Basra Oil Company asked British Petroleum (BP) to deepen its output cuts from the Rumaila oilfield by around 140,000 barrels per day. Usually, its total production stands between 1.4 million and 1.45 million barrels per day. The US producer Exxon Mobil Corp. has also agreed to cooperate with the Iraqi authorities and cut an extra 70,000 barrels per day from the West Qurna 1 field. According to experts, this will lead to a drop in production to around 350,000 barrels per day.