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The IEA estimates Iraq produced 4.6 million barrels a day in October, up 540,000 from September and the highest since 2019. Output is about 170,000 barrels a day above Iraq's implied OPEC+ target, and Gulf exports excluding Oman reached 18.4 million barrels a day, still 26% below pre-war levels.
Rising Gulf crude flows add supply to the market and pressure oil prices lower, which lowers diesel and energy costs for feed mills. Continued quota overproduction would reinforce a softer price trend.
mlq.aiMLQ.ai NewsroomNov 14, 2026After 131 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (44% higher; middle half -4.0% to +2.4%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
