Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Iraq Tells Oil Fields to Start Lifting Output After US-Iran Deal
Business & Finance

Iraq Tells Oil Fields to Start Lifting Output After US-Iran Deal

Iraq Tells Oil Fields to Start Lifting Output After US-Iran Deal
Bloomberg Markets Saturday 20 June 2026, 12:05 UTC By Khalid Al Ansary, Sara Gharaibeh 1 min read
Key Points

BASRA, IRAQ - APRIL 29: A general view of the Nahr Bin Umar refinery, which has a daily production capacity of approximately 45,000 barrels of crude oil and 1,800 barrels of condensate, in Basra, Iraq on April 29, 2026. As part of a project carried out by Basra Gas Company (BGC), natural gas extracted from the Bin Omar field has been integrated into the North Rumaila gas system.

BASRA, IRAQ - APRIL 29: A general view of the Nahr Bin Umar refinery, which has a daily production capacity of approximately 45,000 barrels of crude oil and 1,800 barrels of condensate, in Basra, Iraq on April 29, 2026. As part of a project carried out by Basra Gas Company (BGC), natural gas extracted from the Bin Omar field has been integrated into the North Rumaila gas system. According to a statement from BGCi, the project, which was completed with a new pipeline approximately 5 kilometers long, has enabled an additional 70-80 million cubic meters of gas to be added to the economy daily. The goal is to process this gas at the North Rumaila facilities, thereby contributing 500-600 tons of liquefied petroleum gas (LPG) daily to Iraq's energy supply. (Photo by Stringer/Anadolu via Getty Images)
Iraq (LOCATION) US (LOCATION) Iran (LOCATION) BASRA (LOCATION) Nahr Bin Umar (PERSON) Basra Gas Company (ORG) BGC (ORG) the Bin Omar (PERSON) North Rumaila (LOCATION) LPG (ORG) Getty Images (ORG)
Originally published by Bloomberg Markets Read original →

Related Stories

MOU Gives US and Iran Breathing Room

Jun 20th, 2026 MOU Gives US and Iran Breathing Room Georgetown University School of Foreign Service Adjunct Professor Ali Vaez joins David Gura and Christina Ruffini on Bloomberg explains his cautious optimism for the recent Memorandum of Understanding (MOU) involving the US, Israel, and Iran. While Vaez acknowledges a deal within the 60 day timeframe is unlikely, the MOU allows for that timeframe to be extended and should be viewed as a starting place.

Bloomberg Markets 23m ago

Aviation officials in US turn to AI for combating runway issues

Federal aviation officials are hoping to sharply reduce close calls on airport runways by using artificial intelligence — an effort that comes after a deadly runway crash in New York this year refocused attention on such incidents. The Federal Aviation Administration has partnered with technology company Palantir, which has developed a new AI tool that the agency is already deploying to distill a firehose of data and predict potential problems with takeoffs and landings. That work has...

Politico EU 38m ago

From PGP to Mythos: a brief history of export controls that didn't stop anyone

Last Friday, citing unspecified national security concerns, the White House ordered Anthropic to restrict the export of its powerful AI models Fable and Mythos to anyone outside of the United States, as well as foreign nationals inside the country. Shortly after, the AI giant hastily pulled the plug on both models, which have now been unavailable to anyone for a week. The episode is the first real test of whether the U.S. government can use export controls to contain frontier AI the way it...

Hacker News 46m ago

SpaceX IPO Sparks Anticipation for OpenAI and Anthropic

Jun 20th, 2026 SpaceX IPO Sparks Anticipation for OpenAI and Anthropic The capital influx from the SpaceX IPO, which ended its first week of trading up 37% from its IPO price, highlights strong investor enthusiasm. Bloomberg Radio host of "Masters in Business" Barry Ritholtz comes on Bloomberg This Weekend to discuss the potential impact of this enthusiasm on the upcoming IPOs of OpenAI and Anthropic, expected to go public in the near future.

Bloomberg Markets 54m ago