There is no respite for Iraq’s oil industry | GulfNews.com:
"Last week I attended the Platts Middle East Crude Oil Summit in Dubai, which discussed the various aspects of the current — and expected — oil market developments. And especially in the light of the latest Opec decision — or non-decision — not to specify a level of oil production for the coming six months and its attendant impact on falling oil prices.
One of the important revelations out from the summit is the situation of Iraq’s upstream oil industry. This was deemed to be important as Iraq increased its production during 2015 by almost 0.55 million barrels a day (mbd) over 2014.
However, it became questionable whether Iraq is likely to repeat this performance in 2016 or even later. Iraq is mired by problems of security, political and economic instability due to the precipitous decline of oil prices and its impact on the budget and investment spending."
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