Iraq will play a crucial part in meeting global oil demand over the next decade, according to a new report from the International Energy Agency (IEA). Iraq is expected to add 1.2 million barrels per day (mb/d) through 2030, the IEA projects, which is the third largest increase out of any other country in the world after the U.S. and Brazil. Already OPEC’s second largest producer, Iraq has succeeded in ramping up production to nearly 4.5 mb/d in 2018, a remarkable achievement given where the country has been in recent years. As a result, Iraq has played a pivotal role in global supply. “Iraq’s oil sector has navigated well a very turbulent period in the last decade, managing to nearly double its output despite the war against ISIL and large swings in the oil price,” the IEA wrote. “As a result, Iraq has accounted for around one-fifth of the […]