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Page added on February 7, 2012
Iraqi Oil Production
It’s been over six months since we checked in on Iraqi oil production. After going to the trouble of updating the spreadsheet this morning with four different data sources, I see why. Watching Iraqi oil production grow is like watching paint dry. It is growing, but very, very slowly. At this rate it will take another couple of years just to reach the Saddam-era level. Although production in the modern era is characterized by being much more stable than during the pre-invasion timeframe. It’s also striking that all the data sources agree much more tightly than is the case for other OPEC countries – suggesting Iraq is somewhat more transparent and thus it is easier to estimate oil production.
Maybe I’ll check back in another six months…
2 Comments on "Iraqi Oil Production"
cusano on Wed, 8th Feb 2012 12:19 am
After all the heartache Iraq has been thru..this is positive news.
Kenz300 on Thu, 9th Feb 2012 4:24 pm
Relying on the middle east and OPEC is risky for the world economy. We did not understand the risks to our financial system. We did not understand the risks in the BP disaster in the Gulf of Mexico. Risk management has given way to greed. We are not prepared to deal with the problems unfolding in the world today. We have a food crisis, a water crisis, an oil crisis, a climate change crisis, a financial crisis, a jobs crisis and an over population crisis. There are a lot of problems but I hear few solutions being offered.