Iraq Aims for 8-10 Million Bpd Oil Output within Six Years

Iraq's Prime Minister Ali al-Zaidi announced plans to increase the country's oil production capacity to between 8 million and 10 million barrels per day within six years. According to Reuters, this ambitious target was revealed on Friday, with Zaidi stating that Baghdad has sent a ministerial committee to Saudi Arabia to discuss expanding Iraq's production quota under OPEC.

In addition to boosting oil output, Iraq is also working to diversify its export routes. The country aims to ship crude through Syria's Baniyas port on the Mediterranean and Jordan's Aqaba port on the Red Sea, as stated by Zaidi.