In a dramatic shift away from recent austerity policies, Iraq's Cabinet has proposed a 27 percent increase in spending with a $111 billion draft budget.
Southern export uptick unlocks production gains
A partial resumption in tanker traffic has enabled at least 250,000 bpd in increased oil output, but a full recovery still depends on wartime dynamics outside Iraq’s control.
Workers from Iraq's Oil Pipelines Company perform maintenance work on a gas pipeline feeding the Mansuriya power station in June 2026. (Photo credit: Oil Pipelines Company)
