Iraq has sharply reduced oil production at several of its key fields, according to Iraqi oil officials, in a move that significantly reduces the country’s output. Production at Iraq’s largest field, Rumaila, has been cut by about 700,000 barrels per day, officials said. While output at the second largest site has fallen by roughly 450,000 barrels per day, and the third largest field, in Maysan, has been reduced by around 350,000 barrels per day. In addition, Iraq has suspended crude production from their northern Kirkuk region as a precautionary measure, further tightening supplies from one of the Organization of the Petroleum Exporting Country’s top producers.
