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Page added on May 24, 2012

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Sharp Uptick in Iraqi Oil Production

Sharp Uptick in Iraqi Oil Production thumbnail


The graph above shows the latest available data for Iraqi production.  As you can see, there was a sharp increase in March and April.  The April number is entirely dependent on one source – OPEC (secondary sources) – but post-invasion Iraq seems much more transparent than other middle eastern countries and the data sources don’t vary that much.  So I would expect this to be mostly confirmed.

According to Bloomberg, more is on the way:

The country is targeting production of 3.4 million a day this year and more than 4 million barrels in 2013, according to Asim Jihad, a spokesman for the Oil Ministry in Baghdad.

and

Iraq, seeking to more than double oil output by 2015, is poised to overtake Iran as OPEC’s second- largest producer by the end of the year as sanctions hobble crude production in its Persian Gulf neighbor.

My past coverage on prospects for Iraqi oil coverage can be found here.

 

Early Warning



3 Comments on "Sharp Uptick in Iraqi Oil Production"

  1. Plan B Economics on Fri, 25th May 2012 1:36 am 

    Rumsfeld on Iraq War: “Nobody Lied”

    http://www.planbeconomics.com/2011/03/04/rumsfeld-on-iraq-war-nobody-lied/

  2. BillT on Fri, 25th May 2012 2:11 am 

    Lets come back next year and see if it is still there after Israel attacks Iran and we are in a major war.

  3. MrEnergyCzar on Fri, 25th May 2012 2:54 am 

    Isn’t Iraq supposed to be at like 10 mb in a couple of years?

    MrEnergyCzar

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