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Thursday, September 20, 2018

Resumption of Iraqi oil supply uncertain – IEA

Following the extinguishing of a limited number of oil well fires at the Iraqi Rumailah field, southern area production was restarted 23 April while northern area production commenced around 27 April. However, oil production volumes remain limited and total Iraqi production stood in early May at 0.2 mbd compared to 1.43 mbd in March and 2.49 mbd in February. IEA estimate that production of 1.5 mbd is deemed technically feasible some time in June, which is the production seen necessary to generate enough associated gas and LPG to meet domestic requirements. Until local Iraqi refineries are rehabilitated, oil products are being imported from Kuwait.