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Iraq's output surges, but many problems remain

Oil output is rising quickly, but many problems still afflict Iraq’s energy sector

For now, Iraq is defying the doubters. Rising oil production from the megaprojects near Basra has taken the country’s output to 3.62 million barrels a day (b/d), its highest level in 35 years, with exports now at 2.8m b/d. Between January and February, 530,000 b/d were added to production, says the International Energy Agency (IEA). Government data put the figure at 570,000 b/d. This is important for global oil markets, which remain tight thanks to Libya’s struggles - production there was just 360,000 b/d in February, or more than 1 million b/d beneath capacity - and the loss of oil from Iran and smaller producers like Syria, South Sudan and Yemen. Global oil demand is expected to rise by 1

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