(MENAFN) As OPEC gathers in Vienna next month to consider cutting its oil output, a lower profile event in Baghdad on the same day will signal Iraq's longer term ambition to do precisely the opposite.
In detail, Nov. 30 is both the date when OPEC ministers meet in the Austrian capital and the deadline set by Iraqi oil minister Jabar Ali al-Luaibi for international firms to submit bids to help it develop 12 "small and medium-sized" oil fields.
Crude output in Iraq, OPEC's second largest producer, is already rising dramatically despite corruption, poor infrastructure and the fight against Islamic State.
This is complicating OPEC's efforts to revive prices by making its first output cut since the 2008 global financial crisis.
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