Iraqi oil production continues to rise to new records despite Opec+ compliance quotas, hitting 4.75mn b/d in August with bumper KRG volumes.

Figures released this week from Iraq’s Oil Ministry show federal Iraq crude exports rose 40,000 b/d to 3.60mn b/d in August, the highest level since February. Of this 96%, 3.47mn b/d, was exported from Basra, with a further 105,000 b/d through the KRG’s export pipeline to the Mediterranean port of Ceyhan in Turkey. 

Taken together...