Market Insight: Iraq’s Crude Production Recovery

Iraq’s crude production recovery comes at an important moment for the country’s oil sector.

Major Basrah-area fields have reportedly resumed operations, bringing southern production back to around 2.1 million barrels per day as of 23 June. However, output remains below pre-conflict levels of approximately 3.5 million barrels per day.

The recovery highlights both Iraq’s long-term production ambitions and the practical challenges facing the sector, including infrastructure limits, logistics, staffing constraints and export capacity.

For commodity markets, Iraq remains a key producer to watch, particularly as production levels, export flows and regional stability continue to influence supply expectations.