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Iraq boosts oil production ahead of OPEC talks in Algeria

by ChemOrbis Editorial Team -
  • 24/08/2016 (11:43)
According to media reports, Iraq Oil Minister Jabbar Al-Luaibi came together with the international oil companies and asked them to raise oil and gas production to enhance national revenue, according to an online statement from the Oil Ministry. Data compiled by Bloomberg shows that the output of Iraq, OPEC’s second-biggest producer, fell to 4.36 million barrels in July after reaching 4.51 million barrels per day in January. Al-Luaibi is also looking for investments to increase its oil and gas reserves and export capacity.

OPEC members are planning to hold talks next month in Algeria when they meet for the International Energy Forum. Iraq has not confirmed whether it will attend the meeting or not.
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