7 Hrs
Source:
البلاد
Iraq Urges OPEC Cap Hike
Iraqi Oil Minister Bassem Mohammed Khudair said the country’s output exceeds 5 million barrels per day, while it adheres to an OPEC-set export ceiling of 4.33 million barrels per day. He noted the difference between production capacity and export capacity. Baghdad is in talks with the organization to raise the export ceiling and increase the revenues needed to develop infrastructure and carry out government plans. He said the conflict in the Middle East has harmed Iraq and reduced its exports, while oil revenues accounted for 88% of government revenue last year.
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