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Rising Kurdistan Oil Production Gives Iraq OPEC Headache: MEES

OIL
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International oil companies in Kurdistan have steadily adapted to the ‘new normal’ and boosted sales within the region, according to MEES.

  • Output has now reached 0.3m b/d, furthering the pressure on Iraq to reduce production in the south to comply with its OPEC+ commitments.
  • Kurdistan’s crude production continues to rebound from last year’s export pipeline closure as IOC’s consolidate local sales.
  • Although sales are cheaper than international market rates, companies can still make profits under this system.
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International oil companies in Kurdistan have steadily adapted to the ‘new normal’ and boosted sales within the region, according to MEES.

  • Output has now reached 0.3m b/d, furthering the pressure on Iraq to reduce production in the south to comply with its OPEC+ commitments.
  • Kurdistan’s crude production continues to rebound from last year’s export pipeline closure as IOC’s consolidate local sales.
  • Although sales are cheaper than international market rates, companies can still make profits under this system.