Iraq could raise its oil production capacity to 6 million bpd over the next five years but no more than that because of constraints weighing on the industry’s expansion, the Deputy Prime Minister of the country, Ali Allawi, said, as quoted by Energy Intelligence, this week. Iraq is OPEC’s second-largest producer, but it has been struggling to boost production in line with the OPEC+ production expansion agreement that the extended cartel inked last year after demand began to recover after the pandemic. Per OPEC’s latest Monthly…
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