Driven by an ongoing drop in prices of crude oil (see Figure 2), 2015 saw oil demand increasing beyond what the normal economic growth would have implied. Continuously high production has helped to dampen any immediate hope for a recovery of the oil price. Moreover one of the largest oil producing countries, Iran, has announced to expand production in the near future. OPEC production increased 3.3 % from 2014 to 2015 up to 38.7 million b/d. There are still some issues in OPEC countries like Libya, Nigeria and Venezuela but on the contrary Iraq increased its exports by about 20 %.
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