BAGHDAD: OPEC Secretary General Mohammed Barkindo says that Iraq will be able to produce 5 million barrels of oil a day in the second half of 2017, the country’s Minister of Oil Jabbar Ali Al-Luiebi said Tuesday.
If Iraq were able to achieve that feat, it would come ahead of the market’s expectations and potentially complicate Iraq’s commitment to cut production under a deal with the Organization of the Petroleum Exporting Countries.
“We achieved this great achievement of 4 million barrels per day … middle of 2016, and now we have climbed up and we are reaching about 5 million barrels per day beginning of second half of this year,” Al-Luiebi said during an interview at CERAWeek by IHS Markit.
