AGP Executive Report
Last update: 8 hours agoEnergy Security: A drone strike halted production at the Khor Mor gas field, cutting power generation in northern Iraq by up to 2,800 MW and causing estimated losses above $4.15 million a day. Baghdad and Erbil have launched a joint investigation and pledged to prevent further attacks. Oil & Gas: Iraq says output exceeds 5 million barrels a day and is targeting 10 million by 2030, while seeking a higher 2027 OPEC+ quota. A reported 900,000-barrel-a-day data gap could complicate that push. Iraq and the US have also agreed on a route for Iraqi crude exports through the Strait of Hormuz. Trade & Power: Türkiye’s electricity exports to Iraq rose after interconnection capacity doubled, making Iraq its largest export market in 2025. Iraq also lifted grape import restrictions and reopened the Shib crossing with Iran. Markets: Brent fell below $90 as easing Iran-war fears and rising OPEC output weighed on prices, though shipping risks around Hormuz remain.
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