Iraq’s Supergiant Rumaila Field Poised Is for a Revival
Market Intelligence Analysis
AI-PoweredIraq's Rumaila field, a supergiant oil field, is poised for a revival, which will contribute to the country's goal of increasing crude oil production capacity to 6 million barrels per day.
Market impact analysis based on bullish sentiment with 85% confidence.
Article Context
Central to Iraq’s medium-term target to raise its crude oil production capacity to over 6 million barrels per day (bpd), up from around 4.1 million bpd this year, is the supergiant Rumaila field. One of the very largest oil fields in the world, it began production in the 1950s and, together with the Kirkuk field, has produced around 80% of the country’s cumulative oil production since then. Over the years, it remained a microcosm of the positives and negatives that characterise Iraq’s oil industry: blessed with an early abundance…
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