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Energy

UPDATE: Depot fire temporarily cuts Iraqi crude exports

An explosion at the Zubair-1 depot has taken up to 1.5 million bpd of Basra Medium crude exports offline, as Iraq scrambles to divert production to storage and implement workarounds to recover export volumes.

Iraq oil output rebounds in August

Production increased in August as OPEC-plus quotas continued to ease and fields in Iraqi Kurdistan recovered from drone attacks.