View Full Version : Iraq Daily Oil Output Exceeds 3.2 Million Barrels

12-22-2012, 04:34 PM
By Ola Galal - Dec 22, 2012 12:46 AM PT

Iraqi crude (http://www.bloomberg.com/quote/OPCRIRAQ:IND) production will exceed 3.2 million barrels a day in December, Iraqi Oil Minister Abdul Kareem al-Luaibi said today in Cairo.
That compares with output of 3.17 million barrels a day in November, according to the Organization of Petroleum Exporting Countries’ last monthly report.
Iraq (http://topics.bloomberg.com/iraq/) has risen this year to the rank of OPEC’s second- biggest producer. Its output may gain to 3.7 million barrels a day next year and 4 million barrels in 2014, according to the minister.

“We have an ambitious plan to develop the oil industry,” al-Luaibi said.
OPEC will decide on a successor to Secretary-General Abdalla El-Badri by May, al-Luaibi said. El-Badri’s term was extended by one year to the end of 2013 earlier this month when OPEC ministers failed to agree on a successor.
Iraq, which had backed former Oil Minister Thamir Ghadhban (http://topics.bloomberg.com/thamir-ghadhban/), is sticking to its candidate, al-Luaibi said.