Iraq Produces Over 5 Million Barrels of Oil Daily
Iraqi Oil Minister Basim Muhammad Khudhair confirmed that daily production has exceeded 5 million barrels and that Iraq is committed to OPEC's export ceiling of 4.33 million barrels, with discussions underway to raise it.
Translated by Qiyas from الجريدة — Original source
Iraqi Oil Minister Basim Muhammad Khudayr confirmed on Saturday that the country’s oil production exceeds 5 million barrels per day, noting the Ministry of Oil’s commitment to the export ceiling set by the Organization of the Petroleum Exporting Countries (OPEC), which stands at 4.33 million barrels per day.
Khudayr told the Iraqi News Agency (INA) that there is a discrepancy between Iraq’s production capacity and its oil export volume, clarifying that the country’s output surpasses 5 million barrels per day, while the OPEC-determined export ceiling is 4.33 million barrels per day.
He added that Iraq is holding talks with OPEC to raise the export ceiling, citing the country’s unique circumstances and the conditions it has endured over the past five decades.
