energy determinants ofs crude coconut oil export in iraq

   
energy determinants ofs crude coconut oil export in iraq
                                               
                                               
                                               
                                               
  • energy determinants ofs crude coconut oil export in iraq
What is Iraq's crude oil production capacity?

We estimate that Iraq¡¯s crude oil production capacity was 4.6 million b/d as of mid-2022, down from 4.8 million b/d in 2020. Export infrastructure at the southern oil terminals is constrained, and midstream projects are often delayed because of insufficient investment and bureaucratic hurdles.

How much oil does Iraq produce a day?

Iraq¡¯s crude oil production grew by 1.7 million barrels per day (b/d) from 2013 through 2019, and it averaged 4.7 million b/d in 2019, an all-time high over a year. In 2020, Iraq¡¯s crude oil output fell to less than 4.1 million b/d.3 Iraq voluntarily reduced crude oil output in the second quarter of 2020 to comply with the OPEC+ agreement.

What is Iraq's crude oil production capacity in 2023?

We estimate that Iraq¡¯s effective crude oil production capacity was 4.4 million b/d as of mid-2023, down from 4.8 million b/d at the beginning of 2023. The addition of a new refinery and restoration of some equipment at the Basra export terminal boosted production capacity in 2023.

Will OPEC allow oil export to Kurdistan?

In a letter to Congress, the group said ¡°The export of oil is the foundation of Iraq¡¯s economy, and all Iraqis will benefit when full production and global sales resume from the Kurdistan Region.¡± OPEC also joined the party, reportedly asking the Kurdistan government to allow the export of 200,000 bpd of crude via the Turkish port of Ceyhan.