BAGHDAD: Iraq’s plan to increase oil output this year will go ahead, with exports running in January at a record level and unaffected by Iran’s return to the market, Iraqi Oil Minister Adel Abdul Mahdi told Reuters on Thursday.
Iraq, Organisation of the Petroleum Exporting Countries (Opec) second-largest producer, expects output from the country’s southern region to increase by up to 400,000 barrels per day (bpd) this year to over 4 million bpd, he said during an interview in Baghdad.
Iraq also produces oil from the north but revenues from those sales go to the Kurdish self-ruled region, not the central government in Baghdad. The north produces more than 600,000 bpd.
Courtesy : Dawn News