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Commodities Briefing - Categorized | Oil, Trading more

Iraqi oil exports slump but optimism abounds

Posted on 16 August 2013

On the verge of civil war and total collapse, Iraq’s oil exports are stagnating and the first half of this year has seen the Iraqis come up almost 30% short of planned exports of crude from Kirkuk—but never underestimate the power of massive oil reserves to withstand conflict.
For now, Iraq is producing 3.25 million barrels a day, compared with 2.9 million barrels at the same time last year, with Kirkuk exports slumping due to sabotage and politics. But a new supergiant field coming on line and other start-ups eyeing increased production paint a more optimistic picture in the near-term………………………………………..Full Article: Source


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VRS - who has written 37089 posts on Opalesque Commodities Briefing.


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