Iraq’s Oil Production Continues to Increase

  • The International Energy Agency (IEA) have stated that Iraq’s oil production had increased by 530,000 barrels per day in February 2014 to a 35-year high of 3.62 million barrels per day.
  • Exports from Iraq rose 572,000 barrels per day to 2.8 million barrels per day as infrastructure problems at Iraq’s southern export terminal were finally fixed.
  • The IEA also wrote OPEC crude supplies in February 2014 had penetrated 30 million barrels per day for the first time in five months, led by the overflow in Iraqi production, which compensated for a fresh decline in Libyan output.

Source: IEA


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