Report summaryIraq has made the largest contribution to OPEC capacity growth, almost 2 million b/d, since 2010 when it signed development contracts with IOCs. Its 150 billion barrels of oil resources offer production longevity, making the country a key long-term supplier to the global oil market. In 2015, there was a large uptick in production from 3.5 million b/d in 2014 to 4.1 million b/d. This was because of two main factors: the introduction of the Basrah Heavy blend and increased exports from the ...
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