By Simon Watkins for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Clock Is Ticking Down To Iraq's Economic Disaster On 27 July OPEC's second-largest oil producer, Iraq, has less than two months before it loses the key means to export its […]
By John Lee. Seven OPEC+ member states have agreed to implement a combined production adjustment of 188,000 barrels per day (bpd) in July 2026, according to a statement from the group. The countries involved are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. The group met virtually on Saturday to review global market conditions. […]
By John Lee. The Basra-Haditha pipeline project will reportedly have an export capacity of 2.5 million barrels per day (bpd) and is expected to create around 15,000 jobs for Iraqi workers. The Ministry of Oil spokesman, Sahib Bazoun, told the state-run Iraqi News Agency (INA) that the pipeline will serve as a supplementary overland export […]
By John Lee. Seven OPEC+ member countries have agreed to implement a production adjustment of 188,000 barrels per day (bpd) in June 2026, following a virtual meeting held on 3 May 2026. The seven countries involved are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, all of which had previously announced additional voluntary adjustments […]
By John Lee. OPEC has announced that eight OPEC+ countries will implement a production adjustment of 206,000 barrels per day in May 2026, as part of ongoing efforts to stabilise global oil markets. The decision was taken during a virtual meeting on 5 April involving Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman. […]
By John Lee. Iraq participated via video link in a meeting of OPEC+ countries to review global oil market conditions and the production outlook. The group agreed to modestly increase oil production starting April 2026, adding 206,000 barrels per day, as part of a gradual unwinding of earlier voluntary output cuts, citing stable economic conditions […]
By John Lee. Iraq participated via video link in a meeting of OPEC+ countries to review global oil market conditions and the production outlook, as the group confirmed it will maintain its current production policy during early 2026. Full statement from OPEC: Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to […]
By John Lee. OPEC has said it has received updated compensation plans from several countries, including Iraq, to compensate for excess oil production. Full statement from OPEC: OPEC Secretariat receives updated compensation plans from Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman As agreed during the virtual meeting held by the eight countries […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has called for a reassessment of Iraq's oil export quota to reflect the country's true production capacity. Speaking at the Baghdad International Energy Forum (BEIF) on Saturday, which was attended by the OPEC Secretary-General along with Arab, international, and corporate delegations, Sudani highlighted Iraq's strategic role […]
By John Lee. The eight OPEC+ countries, including Iraq, have agreed to the continuing of their phased rollback of 2.2 million bpd in voluntary cuts that began in April. According to a statement from OPEC, the decision, taken during a virtual meeting on 3rd August, reflects confidence in current oil market fundamentals, including low inventory […]
By John Lee. The Ministry of Oil has announced that the upcoming Baghdad International Energy Forum will feature high-level participation, including a keynote address by OPEC Secretary General Haitham Al Ghais. The event is scheduled to take place in Baghdad on 6-7 September. Senior energy ministers from friendly and partner nations, top government officials, and […]
By John Lee. The eight OPEC+ countries, including Iraq, have reaffirmed their coordinated approach to oil market stability and announced a collective production adjustment for August 2025. In a virtual meeting held on 5 July, the group cited healthy market fundamentals and a stable global economic outlook as the basis for a 548,000 barrels per […]
