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2021: A Year of Challenges & Opportunities For Iraqi Kurdish Oil
...0,000 b/d-worth of production from Avana Dome and Bai Hassan fields to federal Iraqi troops in late 2017 (MEES, 20 October 2017), the semi-autonomous region managed to grow its overall oil output. Based on company figures and estimates, MEES puts average-2020 production at 454,000 b/d – a figure closely in...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Kurdistan Oil At Center Of Iraq Budget Disputes
...me after federal forces retreated from the Islamic State in 2014. The federal government reclaimed these assets in 2017 MEES, 20 October 2017). The Opec+ cuts are primarily from an October 2018 baseline, when KRG output was approximately 400,000 b/d. Whichever way you look at it, full-year pr...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
IEA Slashes Demand Outlook Amid Tighter Global Restrictions
...oduction. Again, these downgrades have been frontloaded (see chart 3). DEMAND FOR OPEC CRUDE The IEA sees the Call on Opec averaging 27.70mn b/d for 2021, up 4.8mn b/d on the 2020 level. As recently as 2017 it was 32mn b/d. And while the call doesn’t equate to actual demand for Opec cr...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Algeria Sees $10.6bn 2020 Trade Deficit With Revenues At 18-Year Low
...me (MEES, 17 June 2020), policy initiatives have been state-driven and focused on dealing with the symptoms rather than the underlying malaise: from printing money (MEES, 13 October 2017), to banning whole swathes of imports (MEES, 1 January 2018). Official foreign currency reserves collapsed from al...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021