Iraq Pumps Crude at Record Level Amid Plummeting Prices
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Iraq is pumping crude at a record pace and will continue to boost exports this year amid a supply glut that’s pushed prices down, Oil Minister Adel Abdul Mahdi said.
“The average for Iraqi crude output is 4 million barrels a day, which is a historical record,” Abdul Mahdi said at a news conference after meeting his Turkish counterpart, Taner Yildiz, in Baghdad. Exports from Iraq will rise to 3.3 million barrels a day this year, boosted by oil from the Kurdish region, Abdul Mahdi said.