Iraq Oil Production Drops Over 50% Amid Iran Pipeline Threats

Iraq's crude oil production fell to 1.9 million barrels per day in June, down over 50% from 4.2 million bpd in February as Iran's attacks disrupt exports. U.S. support is helping rebuild a pipeline from Kirkuk to the Mediterranean Sea, while the UAE plans to double its export capacity with a second pipeline to Fujairah. Analysts from Goldman Sachs reported that pipeline capacity in the region could exceed 14 million bpd by the end of 2028. This information highlights the ongoing vulnerabilities in Middle Eastern oil infrastructure, which could affect global oil supply chains for investors.