In some good news for oil markets Iraq has managed to reverse a temporary loss of almost 500,000 b/d in output capacity (MEES, 4 March). Local media report that production at the 90,000 b/d capacity Nasiriya field returned on 5 March, just a week after roads to its central processing facility were blocked by protesting tribesmen. The field is believed to be producing at 50% of its capacity, and ongoing Opec+ cuts mean it is unlikely to approach full capacity in the near-term.
Meanwhile at the Lukoil-operated 400,000 b/d capacity West Qurna-2 (WQ-2) field operations restarted earlier than planned on 8 March after scheduled maintenance. The Oil Ministry coordinated the shut-down with Lukoil to bring in an additional 50,000 b/d of capacity planned since last year (MEES, 3 September 2021). (CONTINUED - 153 WORDS)