Iraq has increased its oil exports following the gradual easing of voluntary production cuts under the OPEC+ agreement, according to the country’s state oil marketer, SOMO, on Sunday. Earlier this month, eight OPEC+ members agreed to raise production by 137,000 barrels per day from October.
OPEC+ has been gradually increasing production since April, after years of cuts designed to support the oil market.
The increase in Iraqi exports is expected to generate hundreds of millions of dollars in additional revenue at current price levels, said Ali Nizar Al-Shatari, SOMO's director general, in an interview with the Iraqi state news agency.
While he did not specify the exact rise in exports, he noted that an additional 200,000 barrels per day would significantly boost government revenues.
Iraq’s oil exports averaged 3.38 million barrels per day in August, according to the oil ministry. SOMO expects the average for September’s exports to range between 3.4 million and 3.45 million barrels per day.
Earlier this month, Iraqi Prime Minister Mohammed Shia al-Sudani expressed hope that fellow producers would reconsider Iraq’s oil export quota to better align with its production capacity.
As OPEC’s largest overproducer, Iraq has been under pressure from the group to reduce output to compensate for exceeding its agreed quota.
Iraq was among the countries that submitted plans in April to implement further output cuts to offset production above its allocated quotas.
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The imposing figures of three Confederate leaders, carved into the granite face of Georgia’s Stone Mountain, have loomed over the landscape outside Atlanta since the 1970s, a silent tribute to the Southern cause in the U.S. Civil War.
Europe must strengthen its own digital infrastructure to lessen reliance on U.S. providers, though this should not mean cutting ties with them entirely, Germany’s Digital Minister Karsten Wildberger told Reuters.
U.S. Ambassador to India Sergio Gor said he held talks with Indian Prime Minister Narendra Modi, focusing on key bilateral issues including trade, defence, and technology.
On Monday, Egypt will host an international peace summit in the Red Sea city of Sharm el-Sheikh, co-chaired by Egyptian President Abdel Fattah al-Sisi and U.S. President Donald Trump.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Portuguese voters are heading to the polls on Sunday in local elections that could reshape the country’s political landscape.
China says it is ready to develop its relationship with North Korea to strengthen strategic cooperation in international and regional affairs, North Korea's state media KCNA reported.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 12 October, covering the latest developments you need to know.
The imposing figures of three Confederate leaders, carved into the granite face of Georgia’s Stone Mountain, have loomed over the landscape outside Atlanta since the 1970s, a silent tribute to the Southern cause in the U.S. Civil War.
Europe must strengthen its own digital infrastructure to lessen reliance on U.S. providers, though this should not mean cutting ties with them entirely, Germany’s Digital Minister Karsten Wildberger told Reuters.
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