Iraq plans to raise oil production capacity above 6 million barrels per day by 2029

Cairo (Reuters) plans to increase oil production more than 6 million barrels per day by 2029, the Iraqi oil ministry reports on Sunday.

Basem Bassem Mohamed Khojir told the agitation of the Ministry of Oil that Iraq aims to achieve its target through the operation of oil, and the recent transaction related to the major oil bp.

The current Iraqi oil output is located at about 4 million BPDs, say the officials of the Ministry of Petroleum.

It is the second largest producer within the OPEC +, which consists of the organization of oil exported countries and allies, including Russia, and the previous month reaffirmed the group’s output agreement. Iraq also said that it will present an updated plan to compensate the previous previous superprogram.

OPEC + is cutting products by 5.85 million (BPD), which is equal to a number of steps agreed by about 5.7% of the global supply, and it is planned to start an increase in supply planned in April.

(Report Menna Alaa El-Din and Muhammed Al Gebaly; Write to Menna Alaa El-Din; Ellaine Hardcastle and David Goodman Edit)