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Iraq’s Oil Ministry: Our Daily Oil Production Will Increase to 6 Million Barrels by 2029

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Iraq's Oil Ministry: Our Daily Oil Production Will Increase to 6 Million Barrels by 2029

Iraq’s Oil Ministry: Our daily oil production will increase to 6 million barrels by 2029

Iraq’s Oil Ministry announced on Sunday that the country intends to increase its oil production capacity to more than 6 million barrels per day by 2029.

Bassem Mohammed Khudair, Deputy Oil Minister, referred to the recent agreement with British Petroleum (BP) for the redevelopment of four oil and gas fields in Kirkuk and told the Iraqi state news agency that Iraq aims to achieve this goal through nationwide oil exploration and drilling activities.

Officials from the Oil Ministry say Iraq’s current oil production level is about four million barrels per day.

According to a Reuters report, Iraq is the second-largest producer in the OPEC+ group, which includes OPEC members and allies such as Russia.

Baghdad emphasized its commitment to the OPEC+ oil agreement last month and announced that it would present a new plan to compensate for any previous overproduction.

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