The latest figures released on September 2, 2024, indicate that OPEC crude oil production in Iraq, exported to the United States, has remained stable at 4.12 million barrels. This represents a continuation of the previous production levels, reflecting no change in output during this period.
Market analysts are closely watching this steady line as it suggests a period of stability in oil production amid global economic uncertainties. The constant production levels could potentially aid in stabilizing oil prices, affecting everything from transportation costs to heating bills in the U.S.
Economists are now focusing on future reports to understand whether this trend of stable oil production will continue, especially given the volatile nature of global oil markets and geopolitical factors that could impact crude oil supply chains.
