“Business Monitor International’s Iraq Oil and Gas Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Iraq’s oil and gas industry.
BMI forecasts that Iraq will account for 8.48% of Middle East (ME) regional oil demand by 2014, while providing 11.07% of supply. Regional oil use of 8.11mn barrels per day (b/d) in 2001 rose to an estimated 11.38mn b/d in 2009. It should average 11.66mn b/d in 2010 and then rise to around 12.68mn b/d by 2014. Regional oil production was 22.88mn b/d in 2001 and averaged an estimated 24.83mn b/d in 2009. It is set to rise to 27.19mn b/d by 2014. Oil exports are growing steadily, because demand growth is lagging the pace of supply expansion. In 2001, the region was exporting an average 14.77mn b/d.