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Energy

August crude exports dip as OPEC-plus compliance pressure rises

Iraq posted its second-lowest monthly crude loadings of the year as it looks to address mounting pressure to adhere to OPEC-plus quota agreements.

OPEC Secretary General Haitham Al Ghais (left) meets with Iraqi Prime Minister Mohammed Shia al-Sudani (center) and Oil Minister Hayyan Abdulghani (right) in Baghdad on Aug. 29, 2024. (Photo credit: Oil Ministry)

BP revives quest for Kirkuk oil deal

A new memorandum of understanding signals a new phase in BP's decade-long pursuit of a deal to rehabilitate major oil fields in Kirkuk.

OPEC-plus concern keeps lid on May production growth

Nationwide crude output is far below developed capacity due to the ongoing northern pipeline outage, southern infrastructure constraints, and — most acutely — quota pressure from OPEC-plus.