Iraq to raise oil output by 26,000 bpd as OPEC+ states agree April increase

Iraq will increase its oil production by 26,000 barrels per day in April as part of a wider OPEC+ decision by eight countries to raise output by a combined 206,000 barrels per day.

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Iraq to hand largest Russian-operated oil field to US company 

West Qurna 2, one of the world’s largest oil fields, is 75 percent owned by Lukoil, a Russian firm that was the target of US sanctions in August. Washington accused the company of helping finance Russia’s war in Ukraine.

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Oil prices surge amid US-Iran tensions

The threat of a prospective US military intervention in Iran has seen oil prices climb to the highest levels since July as talks between Tehran and Washington continue tentatively.

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Kurdistan Region exported over 33 million barrels of oil since September: Minister

“As of two days ago, we had exported 33 million barrels of our oil through the SOMO company to the port of Ceyhan,” Kamal Mohammad, the Kurdistan Region’s natural resources minister, told The New Region.

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Dhi Qar eyes oil production of 320,000 barrels per day

"These developments reflect a growing momentum in the southern oil sector and contribute to boosting national revenues and supporting the Iraqi economy through well-considered and sustainable steps," Zughair said.

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Venezuela opens up oil sector to US firms

Despite possessing the world’s largest proven crude oil reserves, Caracas has pivoted towards private investment to restore ties with the United States following its coup against Venezuela’s now-former president, Nicolas Maduro.

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Kurdistan Region exported over 19.5 million barrels of oil since late September: Official

“The Kurdistan Region, from September 27, 2025 until December 31, 2025, has delivered 19,594,871 barrels to SOMO [Iraq’s State Oil Marketing Organization], at an average of 218,000 barrels per day,” Rahim said.

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DNO says increasing drilling in Duhok, targets 100,000 barrels per day

“Two rigs, the “DQE-51” and the DNO-owned “Sindy”, have been mobilized to drill eight wells on the license through 2026 as the Company targets a 25 percent increase in gross operated production to 100,000 barrels of oil per day,” DNO said in a statement. 

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Iraq invites US companies to manage massive Russian-operated oilfield

“The transfer of the management of the West Qurna 2 field to one of the American oil companies will serve common interests, enhance the stability of global markets, and ensure the continuity of Iraqi oil production operations and its market share, as well as the sustainability of the state's resources,” the oil ministry said in a statement. 

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