Oil master Hamza Al-Jawahiri affirmed today, Saturday, that Iraq will keep on expanding its oil creation.
“Iraq has an increase in its oil production capacity by one and a half million barrels per day, but to no avail due to international economic policies,” Al-Jawahiri stated to the reporter.
“The export policy established by the Organization of the Petroleum Exporting Countries (OPEC) is still a stumbling block to increasing Iraqi oil exports,” he added.
“Iraq has the ability and potential to increase its oil production annually,” Al-Jawahiri said.
After the significant decline in the global market, the oil group known as OPEC Plus had previously decided to decrease oil production for its member states, which included Iraq, and to increase demand for black gold once more.
Iraq has committed to a voluntary reduction in oil production of 220,000 barrels per day beginning in July 2023, which has been repeatedly extended.
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