Monday, 23rd November 2020
Iraq’s Member of the Parliamentary Oil and Energy Committee, Ghalib Muhammad, is seeking to negotiate with the Organization for Petroleum Exporting Countries and its allies (OPEC+) a reduction in Iraq’s percentage of production if the group goes ahead with extending production cuts.
Monday, 16th November 2020
Libyan oil production has now reached a new high after the country recorded 1.215 million barrels per day (bbl/d), as the OPEC member’s oil industry recovers faster than expected.
Wednesday, 4th November 2020
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are looking into the possibility of further cuts early next year in an effort to try and revitalize the oil market.
Monday, 5th October 2020
Saudi Arabia, the world’s largest oil producer, has reduced its crude oil production by 104,000 barrels of oil per day (bbl/d) when compared with August’s figures.
Thursday, 10th September 2020
Iraq’s federal government has requested that the Kurdistan Regional Government (KRG) cut its oil production by 120,000 barrels per day (bbl/d).
Thursday, 3rd September 2020
Iraq has refuted claims that it was seeking an exemption from the reduction pact during the first quarter of 2021 and has reaffirmed its commitment to the deal.
Wednesday, 22nd July 2020
The Malaysian oil company, Petronas, has restarted production at Iraq’s Gharraf oil field at a rate of 50,000 barrels of oil per day (bbl/d) after a forced shutdown in March due to the pandemic.
Monday, 6th July 2020
Crude oil production resumed on July 1 at the Wafra oilfield, which is a joint venture between Kuwait and Saudi Arabia.
Tuesday, 30th June 2020
Iraq’s oil exports fell by circa 9% or 310,000 barrels per day (bbl/dd) in June, meaning that Iraq has fulfilled about three-fifths of its pledge to the OPEC+ production deal
Tuesday, 16th June 2020
Iraq’s Oil Marketing Company (SOMO) has made significant cuts in Basra crude supplies to Asia for the upcoming July as Iraq steps up efforts to comply with OPEC+ cuts.