Oil Ministry optimistic, Iraq will not export 12m barrels before 2016

BAGHDAD / IraqiNews.com: The Iraqi Oil Ministry is optimistic as it expects that Iraq is going to produce 12 million barrels per day in 2016, an Iraqi expert said on Monday. “It is a sort of optimism to think that Iraq could reach an oil production level of 12m barrels a day in six years,” Nazar Ahmed told IraqiNews.com news agency. He explained that a boost of this kind in Iraq’s oil production requires a global increase in oil demand as well. “Iraq’s oil production may reach four million barrels a day in 2014,” Ahmed added. MH (P)/SR 1