BAML: Iraq poses risk to oil outlook

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BAML says while Iraq has the potential to vastly expand productive capacity, the Iraqi government's stated intention to increase oil capacity from 2.5 to 10-12 million barrels per day (b/d) over the next decade is "very optimistic and we remain sceptical that such increases can be achieved".

However, BAML says, ‘still, a four-fold increase in Iraqi production could be sufficient to keep oil prices from rising above $100 per barrel (/bbl) for much of this decade.'

The US Energy Information Admini