Iraq Oil - 2017 Outlook


Iraqi oil output has continued to rise despite turmoil in the north. Further growth will be more difficult

Luay Al Khatteeb, Founding director of the Iraq Energy Institute and nonresident Fellow at the Center on Global Energy Policy (Columbia University-SIPA)

On the face of it, Iraq's beleaguered oil industry has braved the worst of the oil-price collapse. Federal production figures showed output to be 4.228m barrels a day in September, while Kurdish Iraq produced 0.546m b/d, giving a total of 4.774m b/d. Those figures are disputed - Opec's own secondary sources put output about 320,000 b/d lower, at 4.455m b/d - hardly a small anomaly and far from indicative of the cooperation Opec needs if it is to implement its much-discussed cuts. If those cuts do emerge in 2017, Iraq will accept a reduction from the upper base-line - it simply doesn't accept Opec's lower number.

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