FINANCIAL NEWS

Iraq oil production declines

04 Aug 2013

(MENAFN) Iraq oil output this year may fall well below the intended figure set by the country last year, The Peninsula Qatar reported.

Iraq has been rapidly increasing oil production since 2010. Output went up from 600,000 barrels a day to 2.9 million barrels a day in 2012.

The second largest oil producer in the Organization of the Petroleum Exporting Countries (Opec) expected an output of 3.7 million barrels a day this year, but the instability in the Iraqi political scene and issues with infrastructure will make it difficult for the country to top its current 2.9 million barrels a day average.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more