Iraqi Supply Loss Could Expose The Real Limits Of OPEC Spare Capacity

Iraqi Supply Loss Could Expose The Real Limits Of OPEC Spare Capacity Authored by Julianne Geiger via OilPrice.com, Iraq has already begun shutting in production as exports through the Strait of Hormuz become increasingly constrained. Roughly 1.5 million barrels per day are reportedly offline, and officials have warned that figure could approach 3 million bpd if disruptions persist. At 3 million bpd, this becomes one of the largest sudden supply losses in the modern market ou...

By Tyler Durden