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Energy

Iraqi wartime production cuts reach 3.6 million bpd

Iraq is navigating acute logistical and infrastructure challenges to maximize refinery consumption and exports while the Strait of Hormuz remains closed.
Workers from the state-run Iraqi Drilling Company (IDC) work on a well at the West Qurna 1 field in Basra in March 2026. (Photo credit: IDC)

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.