The hottest oil production in Iraq doubled in 2020
2022-10-19- Detail
China will benefit the most from the doubling of Iraq's oil production in 2020. An in-depth report released by the International Energy Agency (IEA) on Tuesday said that Iraq's oil production will more than double by 2020. In the 1930s, Iraq will become the world's second largest oil exporter after Saudi Arabia, and China will also become the biggest beneficiary of the increase in Iraq's oil production
Fatihbirol, chief economist of IEA, said that Iraq's oil production will have a key impact on the health of the global economy. In this decade, Iraq will contribute 45% of the growth of global oil supply If the IEA's prediction is correct, the surge in Iraq's oil supply will have a far-reaching impact on oil geopolitics, significantly changing the balance of power within the organization of Petroleum Exporting Countries (OPEC), and Iran will overtake Iran and Venezuela to become the second most influential member of OPECfor decades, international sanctions and conflicts have hampered the development of Iraq's oil industry, but in recent years, it has begun to resume prosperity. Iraq has signed production increase contracts with several multinational oil companies, including BP and shell. In September, Iraq's oil exports increased to 2.6 million barrels per day, a new high in more than 30 years
however, the Iraqi oil law has not been passed, which constitutes an important obstacle to oil production. The dispute between Baghdad and Kurdish over oil rights in Suzhou, China is the main solution: when installing the electronic universal tensile machine, 1 we must install it according to the steps and methods in the manual of Jinan wance electronic tensile machine. The crux of the problem is
under the IEA's baseline forecast scenario, Iraq's oil exports will more than double to 6.1 million barrels per day by 2020, and the average annual income from oil exports to Iraq before 2035 is $200billion. Birol said that within 20 years, Iraq will become a major energy country and its GDP will increase to Saudi Arabia's current level according to its superior water retention designed to accept uniform compressive stress
The IEA also said that one of the biggest beneficiaries of Iraq's substantial oil production increase is China. According to IEA prediction, 80% of Iraqi oil will flow to Asia before 2020. Birol said that Iraq's oil exports to China will increase to 1.5 million barrels per day by 2020 and 2million barrels per day by 2035note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content
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