Nationwide crude production increased by just over 50,000 bpd as state-operated Basra fields ramped up to compensate for a temporary decline at Rumaila.

Export volumes held steady in January while revenues appeared to increase slightly on higher global crude prices.

Urgent austerity plan aims to cut $1.4 billion from oil field budgets nationwide in 2026 without affecting production — a warning sign of fiscal trouble for Iraq.

Nationwide output increased year-on-year as Iraq's domestic refineries continued providing an elastic and expanding source of demand.

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.

Once a crown jewel of Kurdistan's oil sector, the Taq Taq field had been entirely offline for more than two years.