Iraq Intends to boost up production
Albawaba - Iraq is poised to increase crude oil output by more than 400,000 barrels per day (bpd) to 3.4 million bpd by the end of the year, provided the United Nations Security Council continues to free up contracts for urgently-needed equipment, said to Gulf News yesterday - Faleh Al Khayat, a senior Iraqi oil ministry official. Al Khayat mentioned that Iraq will closely scrutinise the behaviour of the United States and Britain in the Sanctions Committee to make sure they are not blocking contracts, but even if blocked urgently-needed gear supplies , then Iraq might choose to drop output a bit, but we hope not below 3.3m bpd.
If achieved, that rate would surpass Iraqs pre-Gulf War production level of 3.2m bpd.
