Even as ISIS-fueled chaos grips parts of the Middle Eastern country, Iraq, the OPEC’s second-largest producer and which relies on oil to fund nearly its entire government, managed to increased its daily oil production to an all-time high of 4.5mb/d according to estimates from research firm JBC energy, CNN reported.
That’s up by 100,000b/d from April and helps fill the void left by big outages in Nigeria and Canada. It’s also about 2mb/d more than what Iraq was pumping before the 2003 US invasion.
Moreover, also affecting the output was the decision to stop production of 170,000b/d of Kirkuk crude, and the impact of bad weather and maintenance had slowed output, Iraq’s OPEC Governor and Head of State Oil Marketing Organisation (SOMO), Falah Alammri, explained according to according to Zawya.
The milestones for achieving the results came with the Iraqi troops liberating a gas refinery in the southern part of the Fallujah city from Daesh militants. Furthermore, the Iraqi forces also recaptured from Daesh’s hands key parts of the northern refinery town of Beiji.
Iraqi and Kurdish forces have managed to roll back Daesh in many parts of the country with the help of US-led air strikes, and recaptured the northern city of Tikrit in April. But in May, Daesh scored a major victory by capturing Ramadi, the capital of Anbar province. In addition, Daesh militants launched a coordinated assault on natural gas plant in northern Baghdad, killing at least 11 people and wounding more than a dozen.