Iraq delivers steady oil production in 2023 despite turbulence

Iraq's oil production held steady at 4.63 million barrels per day (bpd) in December to bring the country's annual average for 2023 up to 4.60 million bpd, according to an Iraq Oil Report analysis based on field-by-field data gathered on a monthly basis. *

The country's overall output was virtually unchanged from its 2022 average of 4.61 million bpd, but fields managed by the federal government contributed a larger share in 2023.

Federal output grew to 4.34 million bpd, up from 4.17 million bpd in 2022. That increase compensated for a drop in production from assets managed by the Kurdistan Regional Government (KRG), whose production average fell to 258,000 bpd in 2023, down from 438,000 bpd in 2022, due to the shutdown of the northern export pipeline to Turkey.