Iraq headed for first annual oil output drop in three years - The National

Iraq headed for first annual oil output drop in three years - The National:

"Iraq's oil revival is stalling, and unless momentum is regained, Baghdad will report an output decline for 2013, its first after two years of robust gains.

Swift work since 2010 at Iraq's southern oilfields by the likes of BP, Exxon Mobil and Eni raised output by 600,000 barrels per day (bpd) to 2.9 million bpd in 2012, turning Iraq into the world's fastest growing exporter.

Even more impressive gains were expected this year. When Baghdad revealed a bold target of 3.7 million bpd at the December 2012 meeting of the Opec, Gulf delegations were worried. A whiff of a market-share battle was in the air."

'via Blog this'