Iraq Set for Key Oil Cargo Surge in Sign of Increased Output

Iraq will raise shipments of a key crude grade next month, part of an enlarged export program indicating that the OPEC+ nation is boosting its oil production.

The Middle East country will lift shipments of destination-free Basrah Medium oil to 17 million to 18 million barrels next month, people with knowledge of the matter said. The number is significantly up from July and will lead to a slight increase in total exports, one of them said.