Can Iraqi production surprise again on the upside?
Iraqi oil production outperformed expectations in 2015, after numerous years of disappointing growth. Iraqi production, including output from the semi-autonomous Kurdish region, rose by 0.62 mb/d to above 3.9 mb/d in 2015, the fastest growth since 2004 when Iraq’s oil sector was recovering after the US invasion. The growth was even more impressive at points during 2015 – up by almost 1 mb/d year-on-year across July and August 2015. ….