Why Iraq Can, But Won’t, Reach 8 Million Bpd Of Oil Production

Given that no real change has resulted from last week’s elections in Iraq – the fervently anti-US radical cleric Moqtada al-Sadr is still the de facto leader – its latest crude oil production ambitions should be considered as they always were: that is, by looking at theoretically what could be achieved, and that at practically what is likely to happen. The target announced last week – although it has been mooted a number of times in the past year or so (and then before that, albeit with a gap) is for 8 million barrels per…