Colosseum a.s. (Colosseum a.s.)
Commodities  |  October 09, 2012 16:20:28

Oil production in Iraq has doubled



ColosseumInternational Energy Agency said today that by 2020 the oil production in Iraq be increased from the current 3 million to 6.1 million barrels per day. Country should overtake Russia in position the second largest oil exporter in the world. IEA estimate is still very conservative. Iraqi politicians hope that by the year 2017, raises the prospect for the very optimistic 8 million barrels per day. Increasing oil exports from Iraq will hinder the long-term increase of prices of this commodity.

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