Iraq, Saudi Arabia, and Oman topped the list of the world's five largest deals in August, signing 13 deals to develop exploration fields as it seeks to increase oil production to 8 million barrels per day in the coming years.
Under contracts signed last August, Iraq aspires to increase production by about 750,000 barrels per day and invest about 850 million standard cubic feet per day of gas, according to the Energy Specialty Platform in Washington.
The kingdom, along with parts of the Gulf and Iraq, topped the list of the five largest oil deals in August 2024, which varied between sales and purchases as well as purchases of giant oil tankers, according to a monthly report by the Washington-based Private Energy Platform.
During the past August, Global oil prices were confusing as they rose to $84 a barrel, then fell to $78, before leaving at $80 a barrel by the end of the month.