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Commodities Briefing - Categorized | Market Moves, Oil more

Iraqi situation to swing global Crude Oil markets

Posted on 03 June 2014

Prime MinisterNouri al- Maliki has made a come back winning the most number of seats in Iraq’s parliamentary elections. Barclays in a weekly report notd tht the Iraqi situation is critical to global oil markets, with Libyan production set to be offline for a significant period and the full return of Iran’s sanctions-restricted barrels looking unlikely in the near term. The Iraqi situation is critical to global oil markets, with Libyan production set to be offline for a significant period and the full return of Iran’s sanctions-restricted barrels looking unlikely in the near term.
OPEC’s ability to manage its overall production levels, consistent with demand and other sources of supply, hinges on Iraq’s output. Wood Mackenzie recently forecast Kurdistan’s exports to grow by 500 kb/d to 725 kb/d by 2020,”provided there are no constraints.”……………………………………….Full Article: Source


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