You want $40 oil? Yes, please. But according to the World Energy Outlook 2015 of the International Energy Agency, recently released in London, that would mean 3 mb/d less US tight (shale)…
Category: Iraq
Iraq needs 1.3 mb/d additional oil exports and $US 70 oil to balance budget
The following graphs use data from the latest Article IV consultation report published by the International Monetary Fund (IMF) in August 2015. All IMF papers on Iraq are here. Government Revenues Fig…
World’s untested assumption on 6 mb/d Iraqi oil by 2020
Given the ethnic turmoil in Iraq triggered by ISIL’s recent seizure of towns in Iraq’s North and West it is uncertain how this will impact on oil production in the Shia controlled…
Iraq crude oil exports stall amid pipeline attacks
Those who expect a doubling of Iraqi oil production to 6 mb/d by 2020 should pray for enduring peace and social justice in this war-torn country. Iraq’s overdue integration into OPEC’s quota…
Iraq war and its aftermath failed to stop the beginning of peak oil in 2005
It is now 10 years that the coalition of the willing, err… peaking (US peak 1970, UK peak 1999, Australia peak 2000) invaded Iraq. This was not just an oil war. It…