RE:Iraq back from the brink with record oil figuresHow do we aasess this latest Iraqi statement from the Minister in light of the following
Jan OPEC oil supply report. Numbers in (Mb/d)
Iraq production from secondary sources Nov 3,331, Dec 3,616
Iraq production from direct communication Nov 3,009 Dec 3,356
Joint Organisation Joint Initiative (JODI), also a direct communication Nov 3,009.
How do we resolve the differnce between 3M and 4Mb/d?
Why would Iraq put out two different official numbers?
What is the game plan?
Note that in the OPEC report the Dec increment is about the same at 300 kb/d for both sources
The market usually accepts the OPEC secondary numbers as being most realistic.
Namsoc