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Oil output soars as Iraq retools

The Seattle Times -- BAGHDAD — Despite sectarian bombings and political gridlock, Iraq's crude-oil production is soaring, providing a singular bright spot for the nation's future and relief for global oil markets as the West tightens sanctions on Iranian exports.

The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of oil a day, making Iraq one of the premier producers in the Organization of Petroleum Exporting Countries (OPEC) for the first time in decades.

Energy analysts say the Iraqi boom — along with increased production in Saudi Arabia and the near total recovery of Libya's oil industry — should cushion oil markets from price spikes and give the international community additional leverage over Iran when new sanctions take

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Submitted Jun 03, 2012 By: angel4me

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flyfast Champion Author Kansas City Posts:9,233 Points:1,822,035 Joined:Jan 2008	Message Posted: Jun 3, 2012 10:29:19 PM Ignore flyfast Report Abuse need to be drilling here
40mpgsaturn Champion Author Wisconsin Posts:2,480 Points:517,630 Joined:Jun 2011	Message Posted: Jun 3, 2012 10:28:22 PM Ignore 40mpgsaturn Report Abuse Good news!
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,859,780 Joined:Jun 2006	Message Posted: Jun 3, 2012 10:27:14 PM Ignore PizzaMon Report Abuse About time.
bluebie Veteran Author Salt Lake City Posts:435 Points:103,110 Joined:Mar 2011	Message Posted: Jun 3, 2012 10:26:05 PM Ignore bluebie Report Abuse Lots of good news for the global oil price but price at the pump just went up by a few cents. Now, prices will again rise in anticipation of July 4th.
J4romeo All-Star Author Gary Posts:506 Points:1,214,925 Joined:Jan 2006	Message Posted: Jun 3, 2012 10:24:12 PM Ignore J4romeo Report Abuse Good for us??
singlemom27 Champion Author Ventura Posts:3,093 Points:636,185 Joined:Apr 2011	Message Posted: Jun 3, 2012 10:21:37 PM Ignore singlemom27 Report Abuse Great!
Yankee829 Champion Author Dallas Posts:2,191 Points:555,815 Joined:Sep 2010	Message Posted: Jun 3, 2012 10:21:25 PM Ignore Yankee829 Report Abuse Ok
idigau22 Champion Author Washington Posts:23,384 Points:3,197,985 Joined:Apr 2003	Message Posted: Jun 3, 2012 10:20:13 PM Ignore idigau22 Report Abuse If the Iraq war was a War For Oil, then why did we get absolutely NO oil from Iraq as promised ! Nada, zip, zero!!
Mermaan Champion Author Boston Posts:1,572 Points:421,235 Joined:Apr 2011	Message Posted: Jun 3, 2012 10:20:03 PM Ignore Mermaan Report Abuse Here we go.
nimpy Champion Author Indianapolis Posts:8,120 Points:1,698,080 Joined:Oct 2007	Message Posted: Jun 3, 2012 10:19:57 PM Ignore nimpy Report Abuse Still doesn't mean the gas price will come down
SparkieMi Champion Author Kalamazoo Posts:3,244 Points:584,445 Joined:Sep 2011	Message Posted: Jun 3, 2012 10:15:59 PM Ignore SparkieMi Report Abuse Great!!! BUT, pump prices still too high....
Aviator_Rob Champion Author New York Posts:3,776 Points:410,315 Joined:Mar 2012	Message Posted: Jun 3, 2012 10:15:42 PM Ignore Aviator_Rob Report Abuse It was never about running out of oil, suzmar. It was about cheap oil. As oil prices go up, fewer people can afford to pay for the oil that's left. According to Big Oil, if you can't afford to pay their price, you can go pound sand.
Aviator_Rob Champion Author New York Posts:3,776 Points:410,315 Joined:Mar 2012	Message Posted: Jun 3, 2012 10:12:36 PM Ignore Aviator_Rob Report Abuse You should thank Dick Cheney and Halliburton, LSU_TIGERS_dmb. They're the ones more responsible for Gulf War II. I guess blood for oil was okay for everyone... except for the ones shedding their blood.
jmdk721 Champion Author Missouri Posts:1,184 Points:572,330 Joined:Jul 2011	Message Posted: Jun 3, 2012 10:11:35 PM Ignore jmdk721 Report Abuse ok
Ticoman54 Champion Author Miami Posts:7,026 Points:1,488,020 Joined:Oct 2008	Message Posted: Jun 3, 2012 10:10:47 PM Ignore Ticoman54 Report Abuse Then pump prices should drop even further...
Aviator_Rob Champion Author New York Posts:3,776 Points:410,315 Joined:Mar 2012	Message Posted: Jun 3, 2012 10:09:43 PM Ignore Aviator_Rob Report Abuse Where are you drilling, dynamouse? If you drill more, the economy might improve. If the economy improves, Obama will get re-elected. Quite the dilemma, huh?
tessnlu Champion Author Missouri Posts:24,180 Points:1,104,315 Joined:Aug 2008	Message Posted: Jun 3, 2012 10:08:19 PM Ignore tessnlu Report Abuse ok
Aviator_Rob Champion Author New York Posts:3,776 Points:410,315 Joined:Mar 2012	Message Posted: Jun 3, 2012 10:08:11 PM Ignore Aviator_Rob Report Abuse So tell us, kc58veteran. Who's on your list of approved countries that we can buy oil from? I guarantee you, it won't be enough.
stickyvalves Champion Author Iowa Posts:5,260 Points:1,554,695 Joined:Oct 2005	Message Posted: Jun 3, 2012 10:06:55 PM Ignore stickyvalves Report Abuse $80 still makes them a profit.
dynamouse Champion Author Michigan Posts:4,491 Points:1,747,900 Joined:Dec 2006	Message Posted: Jun 3, 2012 10:05:59 PM Ignore dynamouse Report Abuse drill,drill get rid of obama
midnightsdc Champion Author Ontario Posts:2,294 Points:1,482,340 Joined:Jan 2007	Message Posted: Jun 3, 2012 10:05:03 PM Ignore midnightsdc Report Abuse They are all Tools....
suzmar Champion Author Texas Posts:2,210 Points:869,225 Joined:Jun 2006	Message Posted: Jun 3, 2012 10:01:15 PM Ignore suzmar Report Abuse I guess we are not running out of oil after all.
kst8er Champion Author St. Louis Posts:2,875 Points:1,043,725 Joined:Feb 2006	Message Posted: Jun 3, 2012 9:59:38 PM Ignore kst8er Report Abuse their making money...
niceguytx Champion Author Houston Posts:13,680 Points:2,709,735 Joined:Sep 2005	Message Posted: Jun 3, 2012 9:58:21 PM Ignore niceguytx Report Abuse we may see some benefits for our treasures.
satrn38mpg Champion Author Raleigh Posts:5,052 Points:1,050,015 Joined:Sep 2009	Message Posted: Jun 3, 2012 9:56:56 PM Ignore satrn38mpg Report Abuse ok ?
16Sammie Sophomore Author Florida Posts:110 Points:22,595 Joined:May 2012	Message Posted: Jun 3, 2012 9:54:58 PM Ignore 16Sammie Report Abuse ok
TekWare Champion Author Toronto Posts:3,146 Points:669,525 Joined:May 2011	Message Posted: Jun 3, 2012 9:53:20 PM Ignore TekWare Report Abuse "along with increased production in Saudi Arabia and the near total recovery of Libya's oil industry — should cushion oil markets from price spikes" In a pig's eye. I'm beyond certain they'll come up with a new fear for us all to acknowledge as the reason for future increases.
carman11 Champion Author North Carolina Posts:3,319 Points:688,800 Joined:Jun 2011	Message Posted: Jun 3, 2012 9:51:19 PM Ignore carman11 Report Abuse OK
sickhp Champion Author San Antonio Posts:1,359 Points:513,130 Joined:Sep 2011	Message Posted: Jun 3, 2012 9:49:49 PM Ignore sickhp Report Abuse Drill baby drill in America.
DEG Champion Author Las Vegas Posts:17,605 Points:3,491,680 Joined:Jul 2003	Message Posted: Jun 3, 2012 9:48:25 PM Ignore DEG Report Abuse I'd rather see Iraq receive oil revenue than Iran.
bra0712 Champion Author Arizona Posts:3,649 Points:765,545 Joined:Nov 2008	Message Posted: Jun 3, 2012 9:45:24 PM Ignore bra0712 Report Abuse K
MopedTime All-Star Author Michigan Posts:759 Points:356,485 Joined:Mar 2012	Message Posted: Jun 3, 2012 9:42:50 PM Ignore MopedTime Report Abuse The more oil produced, the better for economic recovery
ExplorerWA Champion Author Washington Posts:4,062 Points:794,225 Joined:Feb 2011	Message Posted: Jun 3, 2012 9:42:34 PM Ignore ExplorerWA Report Abuse That's good news and it should bring prices down.
CQQKIE All-Star Author Illinois Posts:970 Points:348,915 Joined:Jul 2008	Message Posted: Jun 3, 2012 9:39:57 PM Ignore CQQKIE Report Abuse Ok.
RAKARWOWSKI Champion Author Chicago Posts:3,985 Points:817,350 Joined:Jan 2011	Message Posted: Jun 3, 2012 9:32:55 PM Ignore RAKARWOWSKI Report Abuse ok.
gobux10 Champion Author Ohio Posts:3,159 Points:677,035 Joined:Mar 2010	Message Posted: Jun 3, 2012 9:31:33 PM Ignore gobux10 Report Abuse how much
jetlagAK Champion Author Anchorage Posts:2,241 Points:633,625 Joined:Jan 2010	Message Posted: Jun 3, 2012 9:31:15 PM Ignore jetlagAK Report Abuse You said it KC. Anyone Else 2012!
WIWalt Champion Author Wisconsin Posts:1,712 Points:412,715 Joined:Mar 2012	Message Posted: Jun 3, 2012 9:30:46 PM Ignore WIWalt Report Abuse k
kc58veteran Champion Author Pennsylvania Posts:2,511 Points:583,680 Joined:Jul 2009	Message Posted: Jun 3, 2012 9:30:15 PM Ignore kc58veteran Report Abuse Don't Buy From IRAQ! VOTE TO CLEAN OUT WASHINGTON IN 2012!
Barfood Champion Author St. Louis Posts:3,291 Points:1,014,005 Joined:Jun 2009	Message Posted: Jun 3, 2012 9:29:56 PM Ignore Barfood Report Abuse Good, this will help to keep prices going in a lower direction.
ROSYMI Champion Author Michigan Posts:1,028 Points:366,250 Joined:Nov 2011	Message Posted: Jun 3, 2012 9:26:36 PM Ignore ROSYMI Report Abuse ok
gumbyrex Champion Author Fresno Posts:3,281 Points:755,290 Joined:Mar 2011	Message Posted: Jun 3, 2012 9:25:11 PM Ignore gumbyrex Report Abuse Sounds as if they are desperately trying to increase their crude inventory to safe guard against any future economic sanctions.
IUVidiot Champion Author Indiana Posts:3,570 Points:705,435 Joined:Jun 2011	Message Posted: Jun 3, 2012 9:22:21 PM Ignore IUVidiot Report Abuse ok
darkknight1 Champion Author Winston-Salem Posts:4,320 Points:892,810 Joined:Nov 2010	Message Posted: Jun 3, 2012 9:18:31 PM Ignore darkknight1 Report Abuse ok.
TNWTEAR Rookie Author South Carolina Posts:5 Points:26,785 Joined:Nov 2007	Message Posted: Jun 3, 2012 9:18:09 PM Ignore TNWTEAR Report Abuse Let the prices fall!
rver524 Veteran Author Colorado Posts:298 Points:14,320 Joined:Apr 2012	Message Posted: Jun 3, 2012 9:16:19 PM Ignore rver524 Report Abuse We should not be relying on Iraq for oil.
PDQBlues Champion Author San Diego Posts:7,054 Points:1,444,325 Joined:Jan 2009	Message Posted: Jun 3, 2012 9:15:49 PM Ignore PDQBlues Report Abuse Good for Iraq. More oil from them will help them and help lower world oil prices.
RoadKing95 Champion Author San Jose Posts:20,537 Points:3,600,315 Joined:May 2003	Message Posted: Jun 3, 2012 9:09:57 PM Ignore RoadKing95 Report Abuse I find it extremely disheartening that there are so many here that think that Iraq owes us. For what? Going in and destroying their country for no good reason. I guess you are still believing the lies GW & company fed you. Had we not gone in there and concentrated our efforts on Afghanistan we would have been out of there long ago.
LostAgain2009 Champion Author New Mexico Posts:2,390 Points:709,675 Joined:Apr 2009	Message Posted: Jun 3, 2012 9:09:27 PM Ignore LostAgain2009 Report Abuse Good for Iraq.
swrestler Champion Author Grand Rapids Posts:6,120 Points:1,568,900 Joined:Oct 2008	Message Posted: Jun 3, 2012 9:08:46 PM Ignore swrestler Report Abuse Lets Hope The Price At The Pump Goes Down...
Tegger Champion Author Ontario Posts:3,108 Points:1,643,585 Joined:Nov 2005	Message Posted: Jun 3, 2012 9:07:14 PM Ignore Tegger Report Abuse OK
Fhuang66 Champion Author Cleveland Posts:1,319 Points:909,900 Joined:Oct 2005	Message Posted: Jun 3, 2012 9:06:00 PM Ignore Fhuang66 Report Abuse Hope it will ease the gas pump price.