Subscribe 

Energy

U.S. sanctions on Lukoil threaten Iraq oil production drop

There is no backup plan for operating the 480,000 bpd West Qurna-2 field, with some Iraqi officials worrying production might need to be cut within weeks.
A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

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.