Iraq to increase oil exports in July

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Iraq’s crude oil exports have increased so far in July, shipping data showed and industry sources said, suggesting OPEC’s second-largest producer is still undershooting its production cut target under an OPEC-led deal.

Iraq says it is committed to the OPEC+ agreement and will boost compliance.

Iraq had told OPEC+ it would make up for over-production in May and June through larger cuts in later months.

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