Iraq to Boost Oil Output This Year as Asian Demand Strengthens
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Iraq, OPEC’s second-largest oil producer, reiterated plans to boost crude output and exports by the end of the year as demand from Asian buyers strengthens.
Production will rise to 3.5 million barrels a day by the end of December and increase further in 2014, Oil Minister Abdul Kareem al-Luaibi told reporters in Baghdad today. Iraq’s output is about 3.3 million barrels a day, Deputy Prime Minister Hussain Al-Shahristani said a week ago.