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Oil output soars as Iraq retools

The Seattle Times -- BAGHDAD — Despite sectarian bombings and political gridlock, Iraq's crude-oil production is soaring, providing a singular bright spot for the nation's future and relief for global oil markets as the West tightens sanctions on Iranian exports.

The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of oil a day, making Iraq one of the premier producers in the Organization of Petroleum Exporting Countries (OPEC) for the first time in decades.

Energy analysts say the Iraqi boom — along with increased production in Saudi Arabia and the near total recovery of Libya's oil industry — should cushion oil markets from price spikes and give the international community additional leverage over Iran when new sanctions take


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Submitted Jun 03, 2012 By: angel4me
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Author Topic: Oil output soars as Iraq retools Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,320
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Message Posted: Jun 6, 2012 6:01:42 AM

we should never have invaded Iraq. That promise of cheap fuel....? Where did that manifest?
sparky808
Champion Author Honolulu

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Message Posted: Jun 4, 2012 1:34:26 PM

Thank you for posting.
justmedc
Veteran Author Michigan

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Message Posted: Jun 4, 2012 1:59:03 AM

ok
Holly123
Champion Author Charlotte

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Message Posted: Jun 3, 2012 11:57:31 PM

I just want cheaper gas.
cokezero
All-Star Author Philadelphia

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Message Posted: Jun 3, 2012 11:55:01 PM

Can't wait
Goody2317
All-Star Author Wilmington

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Joined:Jun 2008
Message Posted: Jun 3, 2012 11:53:44 PM

Glad to see Iraq getting back on their feet. I still say we need to produce our own.
skybiker
Champion Author South Carolina

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Message Posted: Jun 3, 2012 11:52:41 PM

Wait until the Bakken gets up to speed!!!...
bonzoonfmb
Champion Author Florida

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Message Posted: Jun 3, 2012 11:51:02 PM

The supply will go to the highest bidder.
boatmen
Champion Author New York

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Message Posted: Jun 3, 2012 11:47:37 PM

has very little to do with oil here means nothing
dinomen
Champion Author Arkansas

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Joined:May 2010
Message Posted: Jun 3, 2012 11:46:16 PM

Ok.
5Golfer8
Champion Author Tucson

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Message Posted: Jun 3, 2012 11:44:56 PM

Ok
tippybuddy
Champion Author Ontario

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Message Posted: Jun 3, 2012 11:43:38 PM

ok
DandyDapple
All-Star Author North Dakota

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Message Posted: Jun 3, 2012 11:41:59 PM

OMG 2012 ...
CTarp
Champion Author Texas

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Message Posted: Jun 3, 2012 11:41:45 PM

Thank you USA!
bbreff
Champion Author Atlanta

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Message Posted: Jun 3, 2012 11:40:27 PM



Not on federal lands.

vollee
Champion Author Cincinnati

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Message Posted: Jun 3, 2012 11:35:48 PM

If Aviator Robby is posting, I know its time to go to bed. His drivel postings aren't even humorous - just a classic case of a dumb arse posting his inane comments to every reply posted. Good night all.
nztyraider
Champion Author Nevada

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Message Posted: Jun 3, 2012 11:35:45 PM

The tools are retooling.
DarthDadJr
Champion Author Virginia

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Message Posted: Jun 3, 2012 11:35:34 PM

Should help to keep up the downward pressure on the price of oil...
rf6480
Champion Author Miami

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Message Posted: Jun 3, 2012 11:33:20 PM

the true reason for the wars
knot2swift
Champion Author Calgary

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Message Posted: Jun 3, 2012 11:31:57 PM

Well I guess all the killing was worth it in the long run.
beachmanglen
Champion Author Tampa

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Message Posted: Jun 3, 2012 11:30:43 PM

Keep those wells pumping.
mstearno
Champion Author Dayton

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Message Posted: Jun 3, 2012 11:25:32 PM

prices should be lower
blazerbob91
Champion Author Milwaukee

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Message Posted: Jun 3, 2012 11:24:24 PM

Prices still up
granitestater
Champion Author New Hampshire

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Message Posted: Jun 3, 2012 11:23:31 PM

More oil in the pipeline. Is a good thing.
milespergallon
Champion Author Illinois

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Message Posted: Jun 3, 2012 11:22:40 PM

The amount of output will have little affect on the pump as long as there are spcu-traitors involved
toneOH
All-Star Author Ohio

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Message Posted: Jun 3, 2012 11:22:32 PM

ok
silverfoxv65
Champion Author Michigan

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Message Posted: Jun 3, 2012 11:20:11 PM

Good the more the merrier!

Flood the markets.
MG_Sputnik
Champion Author Philadelphia

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Message Posted: Jun 3, 2012 11:19:58 PM

Will this help us?
MRHONEST
Champion Author Illinois

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Message Posted: Jun 3, 2012 11:18:44 PM

Oil for free anyone?
abcdMA
Champion Author Worcester

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Message Posted: Jun 3, 2012 11:18:34 PM

more world supply is good, however, we should still build Keystone and get more oil from our FRIENDLY neighbor up north
Soglaos
Champion Author Virginia Beach

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Message Posted: Jun 3, 2012 11:17:26 PM

Ok
MsD27Ky
Rookie Author Kentucky

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Message Posted: Jun 3, 2012 11:17:08 PM

here either
MDTDriver
Champion Author California

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Message Posted: Jun 3, 2012 11:03:53 PM

Not much change in gas price here.
TXryder
Champion Author Texas

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Joined:Jan 2012
Message Posted: Jun 3, 2012 11:01:13 PM

They should be paying the US back with their profits for saving their oil fields. Terrorists were blowing them up left and right.
For how long will the global market be protected from oil spikes?
We will see what speculators do when the next major hurricane arrives in the Gulf.
TFowler513
Champion Author Memphis

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Message Posted: Jun 3, 2012 10:55:40 PM

This could all be moot if alternatives were to be more prevalent.
bumpygas
Champion Author Nebraska

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Message Posted: Jun 3, 2012 10:50:50 PM

And yet the price doesn't show an over abundance, thanks to the greed of the oil industry.
listerone
Champion Author Boston

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Message Posted: Jun 3, 2012 10:48:43 PM

Every drop helps.Oil producing nations should compete with each other for market share.To hell with OPEC!
boldrph
Champion Author Topeka

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Message Posted: Jun 3, 2012 10:48:27 PM

sweet
Gas Thirsty
Champion Author Los Angeles

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Message Posted: Jun 3, 2012 10:48:10 PM

Good for Iraq.
Lukus
Champion Author Halifax

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Message Posted: Jun 3, 2012 10:46:22 PM

OK
able2ru
Champion Author Little Rock

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Message Posted: Jun 3, 2012 10:46:02 PM

Y'all are going to give the speculators a heart attack with all this good news. Oh, speculators don't have a heart. They are still probably having a stroke on all the good news. I bet they are burning midnight oil to find bad news to prop the price of oil back up.
Aviator_Rob
Champion Author New York

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Message Posted: Jun 3, 2012 10:45:16 PM

flyfast said, "need to be drilling here"

Contrary to popular belief, we already are. Domestic oil production is at an all time high.
123cowboy
Champion Author Maine

Posts:1,833
Points:519,170
Joined:Mar 2011
Message Posted: Jun 3, 2012 10:41:42 PM

it's still all about money and politics....nothing is simple anymore...
96sc1
Champion Author El Paso

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Message Posted: Jun 3, 2012 10:41:34 PM

So... the Iraq thing went OK, then?
woodeye55
Champion Author Gary

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Message Posted: Jun 3, 2012 10:41:27 PM

Viva, Iraq !!!
AnObserver
Champion Author New Jersey

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Message Posted: Jun 3, 2012 10:40:11 PM

Hopefully this increase in production will allow Iraq to stabilize
pgerassi
Champion Author Milwaukee

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Joined:Apr 2007
Message Posted: Jun 3, 2012 10:39:07 PM

ok
CAroadrunner101
Champion Author California

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Joined:Mar 2009
Message Posted: Jun 3, 2012 10:36:29 PM

ok...
flyfast
Champion Author Kansas City

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Message Posted: Jun 3, 2012 10:29:19 PM

need to be drilling here
40mpgsaturn
Champion Author Wisconsin

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Message Posted: Jun 3, 2012 10:28:22 PM

Good news!
PizzaMon
Champion Author Philadelphia

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Joined:Jun 2006
Message Posted: Jun 3, 2012 10:27:14 PM

About time.
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