ERBIL – Iraq’s oil production has dropped by 300,000 barrels per day following a fire at the Rumaila oil field in Basra Governorate, a key site responsible for nearly 40% of the country’s total output ...

By John Lee. Oil output at Iraq's Rumaila oilfield is reportedly down by 300,000 barrels-per-day (bpd) following a fire last week. The fire is said to have occurred in a decommissioned storage tank at ...

Change in operator could spur new activity at the oil field, which has been offline since 2023 after a steady production decline. A flare burns at the Taq Taq oil field in 2016. (STAFF/Iraq Oil Report ...

Oil futures fell on fears of reduced demand due to China's AI breakthrough and Trump's tariff threats, impacting energy markets and equities.

Oil prices have remained relatively rangebound following Trump's first week in office despite a significant amount of media ...

Meanwhile, output at Iraq’s giant Rumaila oil field remains reduced by about 300,000 barrels a day after a fire last week, an official said. That was partly offset by rising production in ...

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Iran's loss of influence in Lebanon and Syria has helped to spark a shift in attitude among Arab leaders.