July oil output jumps by 150k bpd

As the OPEC-plus coalition prepares to loosen its quotas further, Iraqi production has risen to its highest monthly average since April 2020.
An Iraqi petroleum worker walks past pressure gauges at the Ain Zalah oil fields October 30, 2003 in the Ninewa Province of Northern Iraq. (JOE RAEDLE/Getty Images)

Iraq produced 4.18 million barrels per day (bpd) of crude oil in July, an increase of about 150,000 bpd compared to June, according to an independent field-by-field count by Iraq Oil Report.

That month-on-month increase appeared to go well beyond the pace at which Iraq's OPEC quota is rising. The country pledged to cap production at 4.016 million bpd in July, just 62,000 bpd more than June.

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