OPEC oil producers: Iraq Number 2 with +4M bpd

Shafaq News – Baghdad

Iraq ranked as OPEC’s second-largest producer in August 2025 with 4.015 million bpd, the organization announced on Tuesday.

According to OPEC, Saudi Arabia retained its position as the top producer with 9.709 million bpd, while the UAE came third with 3.255 million bpd, followed by Iran at 3.218 million and Kuwait at 2.492 million.

Nigeria recorded 1.549 million barrels per day, Libya 1.299 million, Algeria 940,000, Venezuela 936,000, and Congo 259,000.

OPEC’s report noted that overall production levels remained relatively stable, though disparities persisted among member states due to differing capacities and policies.

Meanwhile, the International Energy Agency (IEA) warned of a sharp and accelerating decline in oil and gas production from mature fields worldwide, with investment limited mainly to maintaining existing operations. Without steady investment, the world could lose the equivalent of Brazil and Norway’s combined output—about 5.5 million bpd—each year, amounting to an average annual decline of 8 percent over the next decade.

For natural gas, the report projected a 9 percent yearly decline without adequate investment, equivalent to 270 billion cubic meters, roughly equal to Africa’s current total output.

The debate on oil & gas investment tends to focus on the outlook for demandIn fact, the elephant in the room is the rate of decline in output from existing fields. Nearly 90% of all upstream investment goes to offsetting those declines.Our new report: https://t.co/PBYfD496gN pic.twitter.com/KSBwBp7SSh

— International Energy Agency (@IEA) September 16, 2025