Iraq intends to increase oil production to 6 million b/s

It now stands at 4.43 million b/s.

Iraq intends to increase oil production to 6 million barrels per day in the coming years. This was stated by the Minister of Oil of the Republic of Haiyan Abdel Ghani in an interview with the WAM agency, held on Thursday on the sidelines of the eighth OPEC International Seminar.

“As part of the long-term plans, Iraq expects to increase production capacity to 6 million b/s due to licensing agreements that will be concluded with [oil producing] companies at the upcoming stage,” he said.

According to the minister, Iraq is currently producing 4.43 million b/s, which corresponds to the quota set for it under the OPEC+ agreement. At the same time, Abdel Ghani noted that the country’s production capacities allow for oil production at the level of 5.4 million b/s.