Iraq is second-leading contributor to global liquids supply growth in 2015

Iraq was the second-leading contributor to the growth in global oil supply in 2015, behind only the United States. Crude oil production in Iraq, including fields in the Kurdistan Region of northern Iraq, averaged 4.0 million barrels per day (b/d) in 2015, almost 700,000 b/d above the 2014 level. Iraq is the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and accounted for about 75% of total OPEC production growth in 2015. Iraq's oil consumption decreased slightly in 2015, and as a result, all of the crude oil production increase was exported to international markets.

In southern Iraq, where almost 90% of the country's oil was produced in 2015, the upgrade of midstream infrastructure (pipeline pumping stations and storage facilities) and improvements to crude oil quality contributed to increased production. In June 2015, Iraq started marketing Basra Heavy grade crude oil, distinguishing it from the Basra crude it had traditionally marketed as a light crude oil. Before this distinction, Iraq limited its production at oil fields producing heavy oils to maintain the minimum standard for the light grade Basra crude oil. Once Iraq began marketing Basra heavy separately from Basra light, it was able to increase production at fields producing the heavier oil and improve the quality of Basra light. In northern Iraq, where the remaining 10% of Iraq's oil was produced in 2015, the Kurdistan Regional Government (KRG) increased the capacity of its independent pipeline, allowing output increases.


Read full article from EIA here -->