*MEES CALCULATIONS BASED ON EXPORT PROJECTIONS AND CURRENT FUTURES CURVE AS OF 17 MARCH 2017. FEDERALLY CONTROLLED EXPORTS ONLY. SOURCE: IRAQ OIL MINISTRY, MEES CALCULATIONS.

 

• Iraqi crude revenues in the first two months of 2017 have totaled $9.5bn, more than twice the $4.5bn figure for the same period last year.

• Current export rates ought to boost annual oil revenues by around 30% to $58bn according to the current futures curve. 2016’s $43.7bn was the lowest...