WS #10764
Iraq's Oil Ministry says OPEC has begun gradually restoring Iraq's pre-war production allocations, supporting oil sector recovery and potentially increasing global supply. Ukraine continues long-range drone strikes on Russian and occupied sites, with Crimea declaring state of emergency after energy grid attacks; Ukrainian drone attacks in May 2026 at ~3.5x year earlier. Oman tells allies ships going through Hormuz may have to pay; reported $2m 'service fee' waiver runs to Aug.18, with analysts warning shipping costs could rise 15-20%.
Iraq OPEC production restoration
Iraq's Oil Ministry says OPEC has begun gradually restoring Iraq's pre-war production allocations, supporting oil sector recovery and potentially increasing global supply.
Ukraine continues long-range drone strikes on Russian and occupied sites, with Crimea declaring state of emergency after energy grid attacks; Ukrainian drone attacks in May 2026 at ~3.5x year earlier.
Oman tells allies ships going through Hormuz may have to pay; reported $2m 'service fee' waiver runs to Aug.18, with analysts warning shipping costs could rise 15-20%.