Iraq Boosts Output From Southern Oil Fields by 250,000 Barrels a Day
JH Kim
Summary
- Iraq increased crude oil production from its southern oil fields by 250,000 barrels a day.
- The increase lifted crude oil production at the southern fields to about 1.75 million barrels a day.
- Investors are watching how changes in the Middle East and future production policy by OPEC+ will affect global oil prices.
Forecast Trend Report by Period
Iraq has increased crude output from its southern oil fields by 250,000 barrels a day.
Walter Bloomberg reported on June 19 that production from the southern fields rose to about 1.75 million barrels a day after the increase.
The southern oil fields are a key part of Iraq's national crude production, and the increase adds to global oil supply.
The move comes as markets gauge progress in U.S.-Iran talks and rising expectations for normalization in the Strait of Hormuz, while major oil producers continue to raise supply.
Investors are also watching how shifts in the Middle East and future production policy from OPEC+ will affect global oil prices.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
