Daily Energy Report

Daily Energy Report

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Daily Energy Report
Daily Energy Report
Daily Energy Report

Daily Energy Report

Iraq oil consumption, Inventory report, EU’s Russian gas, China/Russia pipeline, Shadow fleet & EU, India LNG, Norway exploration, India coal, EIA trims WTI, Russia production & revenue, and more.

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A F Alhajji
May 07, 2025
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Daily Energy Report
Daily Energy Report
Daily Energy Report
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Summary

May 07, 2025

Chart of the Day

EOA: Iraq Domestic Oil Consumption Is Expected to Hit Record High This Summer

Summary

To mitigate power shortages, Iraq built oil-fired power plants. Figure (1) shows the jump in oil use in power plants from 2021 to 2025. The timing of the OPEC+ production ceiling increases and seasonal demand is key. Domestic oil demand rises in summer, mainly due to cooling needs. We estimate Iraq will burn a record amount of oil in power plants this year, with domestic oil demand increasing by about 150 kb/d from April to August.

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EOA’s Main Takeaway

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