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Iraq plans to increase oil production to 6 million bpd by 2029: ministry

“The ministry seeks to increase oil and gas production capacities within a clearly defined five-year plan, targeting a ceiling exceeding six million barrels per day between 2028 and 2029."

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Iraq plans to increase oil production to 6 million bpd by 2029: ministry Image

With resumption of Kurdish oil exports in sight, Baghdad affirms Iraq’s OPEC compliance

Iraq reaffirmed its commitment to the OPEC+ decisions during a joint phone call between Iraq’s Oil Minister Hayyan Abdul Ghani, Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia, Alexander Novak, Deputy Prime Minister of Russia, and Haitham Al-Ghais, Secretary General of OPEC.

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Iraq faces economic strain as OPEC+ maintains oil production cuts

Iraq remains bound by OPEC+ production limits, preventing it from increasing oil output despite its economic dependence on crude exports. While the country aims to boost growth, strict production caps have reduced its ability to capitalize on global demand. With production disruptions from a fire at Rumaila field and upcoming OPEC+ talks in April, Iraq rejects further cuts but struggles to influence the alliance's policies.

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Iraq hopes oil reserves will exceed 160 bn barrels: minister

Iraq plans to increase its crude reserves to over 160 billion barrels through new licensing rounds covering 29 oil and gas fields.

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Iraq plans to increase oil production to 6 million bpd by 2029: ministry

With resumption of Kurdish oil exports in sight, Baghdad affirms Iraq’s OPEC compliance

Iraq faces economic strain as OPEC+ maintains oil production cuts

Iraq hopes oil reserves will exceed 160 bn barrels: minister

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