Iraq increases its oil production as OPEC supplies recover in June
Iraq increases its oil production as OPEC supplies recover in June
2026-07-04 03:34
Shafaq News – Baghdad
Oil markets saw a recovery in OPEC supplies during June, with Gulf states resuming pumping additional quantities after the disruptions that accompanied the Iran war and the de facto closure of the Strait of Hormuz. Iraq was among the countries that increased their oil production during the month.
OPEC production rose by 3.3 million barrels per day month-on-month to 19.43 million barrels per day, with Kuwait and Iran recording the largest increases in output, along with higher supplies from Saudi Arabia, Iraq, Nigeria and Libya, according to a Reuters survey.
The survey indicated that OPEC’s June production represented a recovery from the organization’s lowest monthly level since at least 2000, but it remained well below its targeted production quotas. Current production levels also remain below those recorded during the COVID-19 pandemic in 2020 when global oil demand collapsed.
He concluded that seven members of the OPEC+ alliance, which includes Russia and other producing countries, had agreed to increase production during June, but the Iranian war disrupted the full implementation of those increases.
shafaq.com
