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Energy

CORRECTED: Iraq deepens production cuts

The Oil Ministry made major cuts at state-operated fields in October in a bid to answer OPEC-plus concerns over quota compliance.

Personnel from the state-run Iraqi Drilling Company (IDC) operate a drilling rig at the Zubair oil field in Basra in September 2024. (Photo credit: IDC)

August production edges higher

Nationwide production topped 4.7 million bpd for the second straight month — the highest output since 2019.