Iraq Oil Exports Rebound Past 1.5 Million BPD Amid Ongoing Fiscal Crisis

Iraq's oil production and exports have rebounded in July, but the country still faces a significant fiscal crisis. According to an analysis of shipping data by Iraq Oil Report, exports increased to just over 1.5 million barrels per day (bpd) in July, up from 730,000 bpd in June.

The recovery was driven by a rising pace of tanker loadings at Basra Gulf outlets. Despite the increase, Iraq's oil production and exports remain far below the levels needed to alleviate the government's fiscal crisis.