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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