May oil production holds steady near 4m bpd

Iraq's Oil Ministry is sitting on roughly 1 million bpd of capacity — and developing more — as OPEC quotas begin to ease.
Iraqi Oil Minister Ihsan Ismaael (center right) attends test operations of new production from the Yamama reservoir at the West Qurna 2 oil field on May 27, 2021. (Photo credit: Oil Ministry)

Iraq's nationwide oil production held steady at about 4.10 million barrels per day (bpd) in May, according to an Iraq Oil Report analysis based on data gathered independently from each producing field.

Fields controlled by the federal government produced about 3.63 million bpd, and the semi-autonomous Kurdistan Regional Government (KRG) produced about 471,000 bpd — both virtually unchanged from April output levels.

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