Political instability, insurgency and low oil prices have been a drag on the Iraqi economy in recent years. A major OPEC oil producer and exporter, Iraq is suffering from a shortage of domestic gas supply. Development of the indigenous gas resource will unlock domestic energy demand and investment supported by recovering oil revenues. Throughout the forecast period from 2015 to 2035 total energy demand in Iraq is expected to grow at 4% a year.
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Due to their sensitivity to political events and the global economy, energy demand and trade remain extremely volatile. The rapidly changing cost environment for hydrocarbon production and renewable energy, combined with energy policy changes, means the fuel mix in energy markets can be unpredictable at best. Further complicating the outlook is the transition and pace of the energy-intensive developing world from industrial to services-based economic growth, supporting the growing need for power generation.
This Energy Markets Long Term Outlook report provides a multi-fuel supply and demand forecast supported by a breakdown of the key facts.
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Iraq energy markets long-term outlook 2016
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