Iraq was among the OPEC member countries that increased oil production in June, contributing to a broader rise in output across the organization as regional supply disruptions eased.
According to a Reuters survey, OPEC’s total oil production increased by 3.3 million barrels per day during June, reaching approximately 19.43 million barrels per day. The increase came after Gulf producers raised output following delays and disruptions linked to the conflict involving Iran and the temporary closure of the Strait of Hormuz.
The recovery in production was driven largely by significant increases from Kuwait and Iran, while Saudi Arabia, Iraq, Nigeria, and Libya also boosted supplies during the month.
The rise marks a rebound from OPEC’s lowest monthly production level in decades. However, despite the increase, the organization’s overall output remains below its official production targets.
Current production levels are also lower than those recorded during parts of the COVID-19 pandemic in 2020, when oil markets experienced unprecedented volatility due to a sharp decline in global demand.
The production increase follows an agreement by seven members of the OPEC+ alliance, including Russia and other major oil-producing nations, to gradually raise output during June. However, ongoing tensions in the Middle East and disruptions to regional energy infrastructure slowed the full implementation of those plans.
Energy analysts continue to monitor OPEC and OPEC+ production levels closely, as changes in supply remain a key factor influencing global oil prices and market stability.
For Iraq, higher production could provide additional revenue support at a time when the country continues to face economic challenges and remains heavily dependent on oil exports as its primary source of income.
