Iraq Plans To Reduce Oil Products Imports By 25 Percent

Iraq's oil ministry said the nation would reduce its petroleum products imports by 25 percent as crude oil refineries are being rehabilitated following fighting with ISIS militants. Iraq is also producing more oil products by processing natural gas liquids, Oil Minister Jabar al-Luaibi said in a statement, without indicating a specific timeframe for the import cuts.

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It looks as though the situation is normalizing. Two days ago, Iraq has restarted production at the Ajeel oil field in Salahuddin, north of Baghdad. Ajeel is one of several fields to fall under the control of ISIS in 2014. Field was producing 28k b/d pre-2014. Output now at 5k b/d; to rise to 17k b/d.

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