IEA: Iraq is game-changer for world oil markets

10/15/2012
Despite challenges, Iraq's energy sector holds the key to the country's future prosperity and can make a major contribution to the stability and security of global energy markets, the International Energy Agency said Oct. 9. A comprehensive review of the energy sector indicates that Iraq will make by far the largest contribution to global oil supply growth in coming decades, IEA said. Current production of 3 million b/d will more than double by 2020 and expand further to more than 8 million b/d by 2035. Iraq becomes a key supplier to fast-growing Asian markets, mainly China, and the world's second largest oil exporter by the 2030s, overtaking Russia, IEA said. IEA executive director Maria...
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