Rumaila oil field

Crude oil exports by Iraq state-oil marketer SOMO ran at an average rate of 3.5 million barrels per day in January, an Iraqi oil official have said.

BP has cut its development budget for Iraq?s giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State of Iraq and the Levant (ISIL) was making it difficult to pay oil companies.