HFA Icon

Oil Expansion in Iraq Threatens World Demand-Supply Balance

HFA Padded
Hira Shahnawaz Akhtar
Published on
Updated on
Sign up for our E-mail List and Get FREE Access to Exclusive Investment E-books and More!

Iraq produced 3.2 million barrels per day (mmbpd) in June 2013, according to the recent OPEC report. As Iraq has not been allotted any fixed quota in OPEC production, Iraq continues on its own course of action to develop numerous new oil fields to threaten the control OPEC has over the world supply of oil.

Figure 1: OPEC Production of Oil in June 2013 (000 bbls)

oil

Iraq has the fifth largest crude oil proven reserves in the world at 141 billion barrels (bbls) as of January 1, 2013. This means that if Iraq is able to overcome its geopolitical issues and civil unrest,...

Login required to continue reading.

Setup a free account to get access to this article (no credit card required).

View Full Article
Already a member? Log in here
HFA Padded

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.