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Iraq - over the worst

Iraqi oil output has continued to rise despite turmoil in the north. Further growth will be more difficult

On the face of it, Iraq's beleaguered oil industry has braved the worst of the oil-price collapse. Federal production figures showed output to be 4.228m barrels a day in September, while Kurdish Iraq produced 0.546m b/d, giving a total of 4.774m b/d. Those figures are disputed - Opec's own secondary sources put output about 320,000 b/d lower, at 4.455m b/d - hardly a small anomaly and far from indicative of the cooperation Opec needs if it is to implement its much-discussed cuts. If those cuts do emerge in 2017, Iraq will accept a reduction from the upper base-line - it simply doesn't accept Opec's lower number. As for 2017, absent from an Opec-orchestrated cut in supply my sources at the Mi

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