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BBC: Iraqi oil exceeds pre-war output
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. 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. Since the summer there has been a marked downturn in all forms of violence in Iraq. Analysts point to a number of reasons for this, ranging from the big increase or "surge" in American troop numbers in Baghdad, to Sunni militant groups turning against former al-Qaeda allies. 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. Not much longer before we can go after Iran without causing a world-wide economic depression.... which would have an interesting impact on the activities of the Saudi princes. Posted by: trailing wife 2007-12-14 |
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