Iraq, UAE, Saudi Arabia All Set for Major Oil Output Surge in 2027

Most oil producers in the Middle East will see their crude oil production surge by double-digit percentages next year, rebounding from this year's shut-ins due to the Iran war and the closed Strait of Hormuz. OPEC's second-largest oil producer, Iraq, which was the first to slash output in the wake of the shipping disruption, is set to see the biggest percentage jump in production in 2027, at 34.1%, BMI, a unit of Fitch Solutions, said in a report carried by Malaysia's outlet New Straits Times. T...