Despite some supply disruptions and security threats, Iraq was the second-leading contributor to global oil supply growth in 2014, behind only the United States. Iraq accounted for almost 60% of production growth among the Organization of the Petroleum Exporting Countries (OPEC), although this growth was more than offset by production declines in other OPEC countries. Iraq’s crude oil production, which averaged almost 3.4 million barrels per day (bbl/d) in 2014, was 330,000 bbl/d above 2013 levels, despite the heightened security threat from the Islamic State of Iraq and the Levant (ISIL) and disrupted production in northern Iraq. Source: U.S. Energy Information Administration, Short-Term Energy Outlook, Iraq Country Analysis Brief ISIL attacks in northern Iraq in early June 2014 reduced northern Iraqi production and refinery operations (not including the Iraqi Kurdistan Region). These attacks did not affect southern production and exports, which […]