Iraq's OPEC+ cuts will need IOCs contribution, but at what cost?

S&P GLOBAL PLATTS | Iraq will have to cut production from fields operated by international oil companies to comply with the new OPEC+ pact, but the country's 1.061 million b/d output reduction in May and June will test its contractual obligations with those companies including ExxonMobil and BP, analysts said. OPEC's second-largest oil producer is likely to start cutting output from the smaller, government-operated fields and then move on to IOC ones, most of which are in the south and are among the biggest fields in the country.

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