‘Iraq’s oil production will hit 4.580 mln bpd as of July’

BAGHDAD – Iraq’s oil output will reach 4.580 million barrels per day as of July following an OPEC+ decision to increase production, an Iraqi Oil Ministry spokesperson said, according to the state news agency.

“Production increase will be at a rate of 70,000 bpd,” spokesman Aasem Jehad said according to Reuters, noting that the OPEC+ decision concerns production not exports.

OPEC+ said it had agreed to boost output by 648,000 bpd in July – or 0.7% of global demand – and a similar amount in August versus the initial plan to add 432,000 bpd a month over three months until September.