Commodities
Iraq Seeks $100B Fund to Boost Oil Output to 10M bpd
Prime Minister Ali Falih al-Zaidi laid out a comprehensive policy address during the 8th Baghdad Dialogue Conference, outlining key pillars for Iraq's multi-year development roadmap.
The plan focuses on scaling crude oil production capacity to 10 million barrels per day (bpd) within six years, in line with OPEC targets. To achieve this goal, Iraq will accelerate alternative crude export routes and develop pipeline corridors via Turkey, Syria, and Jordan.
Al-Zaidi also emphasized the importance of domestic fuel savings, aiming for 17.8 trillion IQD ($13.6B) in annual fiscal savings through downstream consumption and fuel management reforms.