Macroeconomic Forecast Iraq

August 2006 | Macroeconomic Forecasts

A slight pick-up in oil output and exports in Q206 bodes well for full-year growth - but risks remain high. The most positive sign as far as output is concerned is a small pick-up in oil exports this year. In both June and July, total crude oil output rose above 2.0mn b/d, a level not seen since September 2005, which led to exports of over 1.6mn b/d in both months. However, these gains were largely set back in mid-July by renewed sabotage to the northern Kirkuk-Ceyhan pipeline.

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