June production up as Iraq agrees to new OPEC cuts
Iraqi output increased significantly in June; OPEC says Iraq has pledged to start compensating for overproduction starting in July.
Workers with the state-run Iraqi Drilling Company drill a well at the Zubair oil field in June 2024. (Photo credit: IDC media)
Iraq's oil production jumped by over 100,000 barrels per day (bpd) in June as output increased substantially from state-run fields in Basra, according to an Iraq Oil Report analysis based on data gathered from the country's active fields. *
The single biggest increase came from the Majnoon oil field, which went from 69,000 bpd in May to 177,000 bpd in June, according to officials directly familiar with the project.
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