Oil exports from Iraq's southern terminals have fallen so far in January, according to loading data and an industry source, a sign that OPEC's second-largest producer is following through on the group's decision to cut output.

Baghdad's initial request to be exempt from the deal, plus loading programmes pointing to continued high Iraqi exports, have added to scepticism that the country would comply with the output cuts. Iraq is supposed to curb production by 210,000 barrels per day.Exports from southern Iraq in the first 16 days of January have averaged 3.25 million barrels per day (bpd), according to shipping data tracked by Reuters and by an industry source. That is down from Iraq's own figure of 3.51 million bpd in all of December, a record high. 

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"Exports are definitely down, despite what the loading schedule suggests," said the industry source, who monitors Iraq's shipments. The preliminary January loading plan pointed to another month of near-record southern exports.