Originally Posted by Tarball
I don't know, I'd have to check into it. But I know your not saying Iraq reserves are flowing at acceptable levels are you.
We've been in Iraq for almost 5 yrs & its still under pre war levels. Why is that?
Iraqi Oil Is Easing Supply Strain
By Hassan Hafidh
AMMAN, Jordan -- Amid today's tight crude markets, hundreds of thousands of extra barrels of oil have helped ease the strain. They are coming from a surprising source: Iraq.
In recent months, Iraqi oil output has climbed slowly back to levels seen before the 2003 U.S.-led invasion, thanks in large part to increased production from the north. While it is unclear whether the gains can be maintained, the higher numbers have been an encouraging sign to U.S. and Iraqi officials in Baghdad
The BBC reported:
Iraqi oil production is above the levels seen before the US-led invasion of the country in 2003, according to the International Energy Agency (IEA). The IEA said Iraqi crude production is now running at 2.3 million barrels per day, compared with 1.9 million barrels at the start of this year.
It puts the rise down to the improving security situation in Iraq, especially in the north of the country...
In its latest monthly Oil Market Report, the IEA puts the Iraqi increase in production down to improved security on the main oil pipeline from Iraq's northern oilfields to the port of Ceyhan in Turkey.
In recent years this pipeline has been out of action for long periods due to sabotage attacks.
Iraq has the third largest proven oil reserves after Saudi Arabia and Iran, but exports plummeted in the face of the insurgency that flared up following the US-led invasion.