• Home
  • Iraq’s oil surge: Aiming for 6M barrels daily in five years
The Iraqi Ministry of Oil is aiming to produce six million barrels a day in five years. The goal was set after Iraq voluntarily cut production 220,000 bpd in line with OPEC, allowing only a production of 4 million bpd. Up until the five year mark, Iraq is reallocating resources to expand the hydrocarbon sector to focus on refining, renewable energy, gas, and crude oil production to promote self-reliance in the sector and end imports. 

Iraq’s oil surge: Aiming for 6M barrels daily in five years

The Iraqi Ministry of Oil is aiming to produce six million barrels a day in five years. The goal was set after Iraq voluntarily cut production 220,000 bpd in line with OPEC, allowing only a production of 4 million bpd. Up until the five year mark, Iraq is reallocating resources to expand the hydrocarbon sector to focus on refining, renewable energy, gas, and crude oil production to promote self-reliance in the sector and end imports. 

Issue:
Country:
Subscribe to Receive Latest Updates from GIF.