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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)

July crude output rises by 100,000 bpd

Production increased sharply at key southern fields but infrastructure bottlenecks still limit Iraq's ability to take advantage of rising OPEC quotas.

July oil exports slightly down

Iraq's crude sales receded in July as seasonal demand spikes fueled domestic consumption and quality issues hurt the marketing of Basra Heavy.