Iraq could lower oil production target
London, November 13, 2012
Iraq could lower its oil production target to between 9 million barrels per day and 9.5 million bpd, the country's deputy prime minister for energy said on Tuesday, as part of a review.
Hussain al-Shahristani made the comments at the Oil & Money conference in London.
At present, Iraq with the help of foreign firms has plans to boost its production capacity to 12 million bpd by 2017, but this target has widely been seen as unrealistic. – Reuters