IRAQ

The US government’s Energy Information Agency (EIA) has cut estimates of Iraqi oil output growth in 2014 and 2015 in its latest short term energy outlook. Although operations in Iraq’s southern oil hub have so far been spared from rapid jihadist advances, the EIA sees production stagnating at around 3.3mn b/d during the forecast period. Iraq’s Oil Minister ‘Abd al-Karim al-Laibi insists capacity expansion plans are proceeding as planned. Yet with the situation...