Annual
OPCNRE01IEA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.98
Year-over-Year Change
44.34%
Date Range
1/1/1975 - 1/1/2012
Summary
The 'Annual' economic trend measures the annual change in the value of oil production in Iraq. This metric provides insight into the health and growth of Iraq's energy sector, a critical component of the country's economy.
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
The 'Annual' trend tracks the year-over-year change in the value of total crude oil production in Iraq. It is an important indicator for evaluating the performance and development of Iraq's oil industry, which is a major driver of the nation's economic activity and government revenues.
Methodology
The data is collected and reported by the U.S. Energy Information Administration (EIA).
Historical Context
This trend is closely monitored by economists, policymakers, and energy market analysts to assess Iraq's economic and geopolitical dynamics.
Key Facts
- Iraq is one of the world's largest oil producers.
- Oil exports account for over 90% of Iraq's government revenues.
- Fluctuations in oil production can significantly impact Iraq's economic growth and stability.
FAQs
Q: What does this economic trend measure?
A: The 'Annual' trend measures the year-over-year change in the total value of crude oil production in Iraq.
Q: Why is this trend relevant for users or analysts?
A: This trend provides crucial insight into the performance and development of Iraq's oil industry, which is a major driver of the country's economic activity and government revenues.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Energy Information Administration (EIA).
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and energy market analysts to assess Iraq's economic and geopolitical dynamics.
Q: Are there update delays or limitations?
A: The data may be subject to occasional reporting delays or revisions by the EIA.
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Citation
U.S. Energy Information Administration, Annual (OPCNRE01IEA661N), retrieved from FRED.