Iraq production climbs higher in July
Rising output at the Majnoon field has driven significant production gains despite OPEC-plus pressure for Iraq to adhere to quotas.
Iraq's state-run Oil Exploration Company conducts seismic survey operations at the Qayarah oil field in Ninewa province in August 2024. (Photo credit: Oil Ministry)
Iraqi crude production increased by over 100,000 bpd for a second straight month in July as the Oil Ministry ramped up exports despite OPEC pressure to adhere to reduced quotas.
Most of the increase came from state-operated fields in Basra, led by Majnoon, which increased production from 69,000 bpd in May to 177,000 bpd in June, and then further up to 229,000 bpd in July, according to oil officials familiar with the field.
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