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Iraq to boost crude oil output capacity to 6.5m bpd
(MENAFN) Iraq's government issued a statement declaring the cabinet to have passed a decision to increase the capacity of crude oil output to reach by 2022 a total of 6.5 million barrels per day.
Crude oil output capacity has recorded in January roughly 5 million barrels per day, Iraqi Oil Minister Jabar al-Luaibi confirmed.
Iraq was also revealed to be generating over 4.4 million bpd, under a deal to reduce supply in order to increase oil prices.
The agreement was said to have been secured between the 14-member Organization of Petroleum Exporting Countries along with further exporters, such as Russia.
Crude oil output capacity has recorded in January roughly 5 million barrels per day, Iraqi Oil Minister Jabar al-Luaibi confirmed.
Iraq was also revealed to be generating over 4.4 million bpd, under a deal to reduce supply in order to increase oil prices.
The agreement was said to have been secured between the 14-member Organization of Petroleum Exporting Countries along with further exporters, such as Russia.
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