Iraq’s chronic power shortages and its OPEC+ commitment to cut crude output have pushed the country closer to Iran at a time when the US wants to isolate Tehran. OPEC’s second-largest oil producer relies on associated gas production and Iranian gas to power a number of it plants, and is allowed to make the imports under waivers from the US. Iraq, which currently produces between 16 to 18 GW/day, also imports up to 1.2 GW of electricity from Iran during peak demand. Iraq’s efforts to comply with OPEC+ output cuts are also making it more reliant on Iran imports. “Certainly, the reduction in oil production is impacting the production of the associated […]