Source link : https://asia-news.biz/asia/yemen/iraq-ramps-up-oil-exports-as-opec-eases-production-cuts/
Iraq has significantly increased its crude oil exports following OPEC’s decision to ease production cuts, signaling a strategic move to capitalize on improving market conditions. As the Organization of the Petroleum Exporting Countries begins to roll back previous curbs aimed at stabilizing prices, Iraq is ramping up output to boost revenue and reinforce its position in the global energy landscape. This development comes amid ongoing fluctuations in crude oil prices, influencing supply dynamics and investor sentiment worldwide.
Iraq Accelerates Oil Supply to Capitalize on Eased OPEC Production Limits
Iraq has swiftly increased its oil shipments following OPEC’s recent decision to relax production quotas. The country’s state oil marketer, SOMO, confirmed a sharp rise in export volumes, aiming to capitalize on stronger global demand and higher prices. Iraqi officials have stressed their commitment to restoring output levels that had been constrained over the past year due to OPEC+ cut agreements, signaling a strategic move to boost national revenue amid ongoing economic challenges.
Key highlights of Iraq’s revised oil production stance include:
- Increase in daily crude exports: Up by approximately 300,000 barrels compared to previous months.
- Focus on Asian markets: With major buyers like China and India increasing crude imports.
- Enhanced logistics: Upgraded port facilities to streamline export operations and cut turnaround times.
| Export Region | Volume… |
|---|
—-
Author : Victoria Jones
Publish date : 2025-09-23 23:58:00
Copyright for syndicated content belongs to the linked Source.
—-
1 – 2 – 3 – 4 – 5 – 6 – 7 – 8