Wednesday, June 15, 2005

Iraq: 1.5Mb/d And That's All, Folks

Iraq, previously thought capable of pumping more, has 'fessed up and can only pump 1.5Mb/d. "Iraqi Oil Minister Ibrahim Bahr al-Uloum said early Wednesday that the country's oil exports in the fourth quarter of this year would be virtually unchanged over its current 1.5 million barrels a day." This came as a surprise to many analysts, who expected 300,000 bbl/day more.