Crude Oil Production for Iraq
IRQNGDPMOMBD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,165,000.00
Year-over-Year Change
52.45%
Date Range
1/1/2000 - 1/1/2025
Summary
This series measures the total monthly crude oil production in Iraq, a major global oil producer. The trend is closely monitored by economists and policymakers to assess Iraq's energy sector and its impact on global oil markets.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Crude oil production is a key economic indicator for Iraq, one of the world's largest oil exporters. This series tracks the total volume of crude oil extracted and processed in Iraq on a monthly basis, providing insight into the country's energy industry and its role in global energy supply.
Methodology
The data is collected and reported by the Iraqi Ministry of Oil.
Historical Context
Crude oil production levels in Iraq influence global energy prices and are an important factor in economic and geopolitical analysis.
Key Facts
- Iraq is OPEC's second-largest oil producer.
- Oil exports account for over 90% of Iraq's government revenue.
- Iraq's crude oil production has fluctuated due to political and security challenges.
FAQs
Q: What does this economic trend measure?
A: This series measures the total monthly crude oil production in Iraq, providing insight into the country's energy industry and its role in global energy supply.
Q: Why is this trend relevant for users or analysts?
A: Crude oil production levels in Iraq are closely monitored by economists and policymakers as they influence global energy prices and are an important factor in economic and geopolitical analysis.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Iraqi Ministry of Oil.
Q: How is this trend used in economic policy?
A: Crude oil production data in Iraq is used by markets, economists, and institutions to assess the country's energy sector and its impact on global energy supply and prices.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and potential challenges within Iraq's energy industry.
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Citation
U.S. Federal Reserve, Crude Oil Production for Iraq (IRQNGDPMOMBD), retrieved from FRED.