Domestic Iraqi oil demand is rising strongly and is being met both by climbing product imports and increased refinery runs, data obtained by MEES shows.
A recent IEA study puts Iraqi 2010 oil demand at 32mn tons. Deciphering Iraqi supply and demand trends is a dark art, involving an appreciation of cross-border smuggling, misreporting and simple human frailty, but a rough calculation points to demand rising relatively modestly in 2011 to about 33mn tons. But this year, it has picked up markedly. (CONTINUED - 507 WORDS)