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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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honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Jun 6, 2012 6:01:42 AM Ignore honda0105 Report Abuse we should never have invaded Iraq. That promise of cheap fuel....? Where did that manifest?
sparky808 Champion Author Honolulu Posts:3,018 Points:601,635 Joined:Sep 2011	Message Posted: Jun 4, 2012 1:34:26 PM Ignore sparky808 Report Abuse Thank you for posting.
justmedc Veteran Author Michigan Posts:382 Points:174,495 Joined:Mar 2012	Message Posted: Jun 4, 2012 1:59:03 AM Ignore justmedc Report Abuse ok
Holly123 Champion Author Charlotte Posts:3,217 Points:793,135 Joined:Dec 2010	Message Posted: Jun 3, 2012 11:57:31 PM Ignore Holly123 Report Abuse I just want cheaper gas.
cokezero All-Star Author Philadelphia Posts:830 Points:401,510 Joined:May 2009	Message Posted: Jun 3, 2012 11:55:01 PM Ignore cokezero Report Abuse Can't wait
Goody2317 All-Star Author Wilmington Posts:680 Points:620,755 Joined:Jun 2008	Message Posted: Jun 3, 2012 11:53:44 PM Ignore Goody2317 Report Abuse Glad to see Iraq getting back on their feet. I still say we need to produce our own.
skybiker Champion Author South Carolina Posts:7,313 Points:1,562,440 Joined:Jul 2008	Message Posted: Jun 3, 2012 11:52:41 PM Ignore skybiker Report Abuse Wait until the Bakken gets up to speed!!!...
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Jun 3, 2012 11:51:02 PM Ignore bonzoonfmb Report Abuse The supply will go to the highest bidder.
boatmen Champion Author New York Posts:3,095 Points:625,505 Joined:Jan 2011	Message Posted: Jun 3, 2012 11:47:37 PM Ignore boatmen Report Abuse has very little to do with oil here means nothing
dinomen Champion Author Arkansas Posts:1,882 Points:718,685 Joined:May 2010	Message Posted: Jun 3, 2012 11:46:16 PM Ignore dinomen Report Abuse Ok.
5Golfer8 Champion Author Tucson Posts:2,153 Points:303,575 Joined:Jun 2011	Message Posted: Jun 3, 2012 11:44:56 PM Ignore 5Golfer8 Report Abuse Ok
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Jun 3, 2012 11:43:38 PM Ignore tippybuddy Report Abuse ok
DandyDapple All-Star Author North Dakota Posts:715 Points:313,070 Joined:Sep 2008	Message Posted: Jun 3, 2012 11:41:59 PM Ignore DandyDapple Report Abuse OMG 2012 ...
CTarp Champion Author Texas Posts:1,236 Points:610,520 Joined:Apr 2011	Message Posted: Jun 3, 2012 11:41:45 PM Ignore CTarp Report Abuse Thank you USA!
bbreff Champion Author Atlanta Posts:9,863 Points:2,571,340 Joined:Jun 2005	Message Posted: Jun 3, 2012 11:40:27 PM Ignore bbreff Report Abuse Not on federal lands.
vollee Champion Author Cincinnati Posts:1,787 Points:762,900 Joined:Dec 2007	Message Posted: Jun 3, 2012 11:35:48 PM Ignore vollee Report Abuse If Aviator Robby is posting, I know its time to go to bed. His drivel postings aren't even humorous - just a classic case of a dumb arse posting his inane comments to every reply posted. Good night all.
nztyraider Champion Author Nevada Posts:2,273 Points:696,325 Joined:Apr 2009	Message Posted: Jun 3, 2012 11:35:45 PM Ignore nztyraider Report Abuse The tools are retooling.
DarthDadJr Champion Author Virginia Posts:7,322 Points:1,524,245 Joined:Jul 2008	Message Posted: Jun 3, 2012 11:35:34 PM Ignore DarthDadJr Report Abuse Should help to keep up the downward pressure on the price of oil...
rf6480 Champion Author Miami Posts:1,539 Points:550,330 Joined:Mar 2011	Message Posted: Jun 3, 2012 11:33:20 PM Ignore rf6480 Report Abuse the true reason for the wars
knot2swift Champion Author Calgary Posts:4,403 Points:700,130 Joined:Nov 2009	Message Posted: Jun 3, 2012 11:31:57 PM Ignore knot2swift Report Abuse Well I guess all the killing was worth it in the long run.
beachmanglen All-Star Author Tampa Posts:679 Points:498,600 Joined:Aug 2011	Message Posted: Jun 3, 2012 11:30:43 PM Ignore beachmanglen Report Abuse Keep those wells pumping.
mstearno Champion Author Dayton Posts:8,085 Points:1,735,115 Joined:Jan 2008	Message Posted: Jun 3, 2012 11:25:32 PM Ignore mstearno Report Abuse prices should be lower
blazerbob91 Champion Author Milwaukee Posts:6,160 Points:1,886,595 Joined:Aug 2005	Message Posted: Jun 3, 2012 11:24:24 PM Ignore blazerbob91 Report Abuse Prices still up
granitestater Champion Author New Hampshire Posts:8,848 Points:1,434,750 Joined:Oct 2008	Message Posted: Jun 3, 2012 11:23:31 PM Ignore granitestater Report Abuse More oil in the pipeline. Is a good thing.
milespergallon Champion Author Illinois Posts:9,764 Points:1,912,260 Joined:Feb 2007	Message Posted: Jun 3, 2012 11:22:40 PM Ignore milespergallon Report Abuse The amount of output will have little affect on the pump as long as there are spcu-traitors involved
toneOH All-Star Author Ohio Posts:551 Points:32,195 Joined:May 2011	Message Posted: Jun 3, 2012 11:22:32 PM Ignore toneOH Report Abuse ok
silverfoxv65 Champion Author Michigan Posts:4,495 Points:1,232,975 Joined:Sep 2009	Message Posted: Jun 3, 2012 11:20:11 PM Ignore silverfoxv65 Report Abuse Good the more the merrier! Flood the markets.
MG_Sputnik Champion Author Philadelphia Posts:7,320 Points:1,963,330 Joined:Apr 2006	Message Posted: Jun 3, 2012 11:19:58 PM Ignore MG_Sputnik Report Abuse Will this help us?
MRHONEST Champion Author Illinois Posts:2,212 Points:1,677,180 Joined:May 2007	Message Posted: Jun 3, 2012 11:18:44 PM Ignore MRHONEST Report Abuse Oil for free anyone?
abcdMA Champion Author Worcester Posts:7,942 Points:1,578,880 Joined:Nov 2008	Message Posted: Jun 3, 2012 11:18:34 PM Ignore abcdMA Report Abuse more world supply is good, however, we should still build Keystone and get more oil from our FRIENDLY neighbor up north
Soglaos Champion Author Virginia Beach Posts:2,771 Points:742,655 Joined:Feb 2011	Message Posted: Jun 3, 2012 11:17:26 PM Ignore Soglaos Report Abuse Ok
MsD27Ky Rookie Author Kentucky Posts:7 Points:3,105 Joined:Jun 2012	Message Posted: Jun 3, 2012 11:17:08 PM Ignore MsD27Ky Report Abuse here either
MDTDriver Champion Author California Posts:9,744 Points:2,158,545 Joined:Jul 2006	Message Posted: Jun 3, 2012 11:03:53 PM Ignore MDTDriver Report Abuse Not much change in gas price here.
TXryder Champion Author Texas Posts:2,725 Points:435,655 Joined:Jan 2012	Message Posted: Jun 3, 2012 11:01:13 PM Ignore TXryder Report Abuse They should be paying the US back with their profits for saving their oil fields. Terrorists were blowing them up left and right. For how long will the global market be protected from oil spikes? We will see what speculators do when the next major hurricane arrives in the Gulf.
TFowler513 Champion Author Memphis Posts:3,824 Points:1,416,485 Joined:Mar 2008	Message Posted: Jun 3, 2012 10:55:40 PM Ignore TFowler513 Report Abuse This could all be moot if alternatives were to be more prevalent.
bumpygas Champion Author Nebraska Posts:8,145 Points:1,904,010 Joined:Oct 2007	Message Posted: Jun 3, 2012 10:50:50 PM Ignore bumpygas Report Abuse And yet the price doesn't show an over abundance, thanks to the greed of the oil industry.
listerone Champion Author Boston Posts:3,390 Points:881,465 Joined:Aug 2008	Message Posted: Jun 3, 2012 10:48:43 PM Ignore listerone Report Abuse Every drop helps.Oil producing nations should compete with each other for market share.To hell with OPEC!
boldrph Champion Author Topeka Posts:18,392 Points:3,454,565 Joined:Oct 2002	Message Posted: Jun 3, 2012 10:48:27 PM Ignore boldrph Report Abuse sweet
Gas Thirsty Champion Author Los Angeles Posts:4,888 Points:3,231,415 Joined:Mar 2003	Message Posted: Jun 3, 2012 10:48:10 PM Ignore Gas Thirsty Report Abuse Good for Iraq.
Lukus Champion Author Halifax Posts:8,304 Points:1,678,530 Joined:Nov 2007	Message Posted: Jun 3, 2012 10:46:22 PM Ignore Lukus Report Abuse OK
able2ru Champion Author Little Rock Posts:2,533 Points:807,180 Joined:Mar 2005	Message Posted: Jun 3, 2012 10:46:02 PM Ignore able2ru Report Abuse Y'all are going to give the speculators a heart attack with all this good news. Oh, speculators don't have a heart. They are still probably having a stroke on all the good news. I bet they are burning midnight oil to find bad news to prop the price of oil back up.
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Jun 3, 2012 10:45:16 PM Ignore Aviator_Rob Report Abuse flyfast said, "need to be drilling here" Contrary to popular belief, we already are. Domestic oil production is at an all time high.
123cowboy Champion Author Maine Posts:1,833 Points:403,570 Joined:Mar 2011	Message Posted: Jun 3, 2012 10:41:42 PM Ignore 123cowboy Report Abuse it's still all about money and politics....nothing is simple anymore...
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Jun 3, 2012 10:41:34 PM Ignore 96sc1 Report Abuse So... the Iraq thing went OK, then?
woodeye55 Champion Author Gary Posts:7,382 Points:1,860,655 Joined:Mar 2006	Message Posted: Jun 3, 2012 10:41:27 PM Ignore woodeye55 Report Abuse Viva, Iraq !!!
AnObserver Champion Author New Jersey Posts:8,374 Points:2,261,680 Joined:Sep 2005	Message Posted: Jun 3, 2012 10:40:11 PM Ignore AnObserver Report Abuse Hopefully this increase in production will allow Iraq to stabilize
pgerassi Champion Author Milwaukee Posts:10,916 Points:2,135,505 Joined:Apr 2007	Message Posted: Jun 3, 2012 10:39:07 PM Ignore pgerassi Report Abuse ok
CAroadrunner101 Champion Author California Posts:1,842 Points:1,319,100 Joined:Mar 2009	Message Posted: Jun 3, 2012 10:36:29 PM Ignore CAroadrunner101 Report Abuse ok...
flyfast Champion Author Kansas City Posts:9,268 Points:1,828,960 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:2,500 Points:522,380 Joined:Jun 2011	Message Posted: Jun 3, 2012 10:28:22 PM Ignore 40mpgsaturn Report Abuse Good news!