IRAQ

Iraqi Oil Output Plunges As Pressures Mount

Iraq’s oil production plummeted in February, falling by more than 250,000 b/d month-on-month, according to the latest official figures which exclude KRG-controlled fields (see table, p7). Although exports edged up slightly last month, the decline in wellhead production is indicative of the strains that have emerged as a result of a rush to develop the upstream in the past five years, while the midstream and downstream sectors were left...