The southern part of Iraq, particularly the city of Basra, has remained relatively peaceful during the last few months despite the ongoing conflict in the northern country. Crude oil production for the southern fields stayed at around 3.15 million barrels per day. Iraq’s government forecasts the long-term oil export to reach about 8.4 million barrels per day. The new estimate was scaled down from 12 million barrels of oil per day by 2020 due to technical and infrastructure problems.
As a result to the current security problems, Iraq is not expected to reach the short-term production goal of 3.7 million barrels of oil per day. Experts estimate the output to be closer to 3.4 million barrels per day.
Several oilfield workers working for foreign companies have withdrew due to security worries, however oil output was not affected. Nevertheless, major pipeline projects will be delayed and won’t be completed this year.