Monday, December 17, 2007

Now comes the oil surge

From the Charleston Post and Courrier:

The good news continues to flow from Iraq as the International Energy Agency, which forms part of the Paris-based Organization for Economic Cooperation and Development, reports that oil production is now running close to pre-war levels.


According to the BBC, the IEA's latest monthly Oil Market Report says that Iraqi crude production is now running at 2.3 million barrels per day, compared with 1.9 million barrels at the start of this year. Improved security on the main oil pipeline from Iraq's northern oil fields to the port of Ceyhan in Turkey is the main cause of the increased flow of oil.