Iraq Seeks to Boost Oil Exports Amid Production Decline

Iraq's oil production has decreased to 1.2 million barrels per day due to the ongoing conflict with Iran. Bloomberg posted on X, Baghdad is actively working to resume export flows of its Kirkuk grade from the northern region to mitigate the impact of reduced output. The efforts to enhance export capacity are crucial for Iraq as it navigates the challenges posed by the geopolitical situation in the region. The Kirkuk grade is a significant component of Iraq's oil exports, and its restoration is seen as a vital step in stabilizing the country's oil revenue.