Iraq was the world's 5th largest oil producer in 2009, and has the world's fifth largest proven petroleum reserves. Just a fraction of Iraq's known fields are in development, and Iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited.

Crude Oil Production in Iraq averaged 2354.01 BBL/D/1K from 1973 until 2024, reaching an all time high of 4830.00 BBL/D/1K in December of 2016 and a record low of 0.00 BBL/D/1K in February of 1991. source: Organization of the Petroleum Exporting Countries.

Iraq Crude Oil: Production was reported at 4,043.000 Barrel/Day th in Nov 2024. This records a decrease from the previous number of 4,089.000 Barrel/Day th for Oct 2024.

Sep 28, 2022 · We estimate that Iraq’s crude oil production capacity was 4.6 million b/d as of mid-2022, down from 4.8 million b/d in 2020. Export infrastructure at the southern oil terminals is constrained, and midstream projects are often delayed because of insufficient investment and bureaucratic hurdles.

Iraq's most prolific oil field temporarily lost about 120,000 bpd of production after 60 wells were taken offline in response to a storage tank fire. A compromise measure to pay Kurdistan's oil contractors and unlock Iraq's northern oil export route has met major political opposition.

Nov 10, 2024 · Iraq produced 4.118 mbpd of crude oil in 2023 as the fifth top country in the world, which accounted for about 5.62% of the global production. Furthermore, Iraq exported an average 3.47 mbpd in 2023, making it the fourth largest crude oil exporter in the world.

Jan 15, 2025 · Iraqi oil production fell by 200,000 bpd in the fourth quarter of 2024, as the Oil Ministry continued to make cuts under pressure from OPEC-plus. Throughout most of 2024, nationwide crude output had been outpacing the production levels of the past two years despite Iraq's tighter quota commitments.

We estimate that Iraq’s effective crude oil production capacity was 4.4 million b/d as of mid-2023, down from 4.8 million b/d at the beginning of 2023. The addition of a new refinery and restoration of some equipment at the Basra export terminal boosted production capacity in 2023.

Jan 11, 2019 · Crude oil production in Iraq averaged 4.5 million barrels per day (b/d) through August 2018, up from 4.4 million b/d in 2017. Iraq’s crude oil production has been steadily increasing since declines in the late 1990s and early 2000s, and it …

Dec 21, 2024 · With the reinstatement of 220,000 bpd from Baghdad's voluntary cuts, Iraq's oil production is projected to reach 4.012 million bpd in April 2025, with a net output of 3.892 million bpd after accounting for surplus production compensation.