Baghdad:Oil Minister Bassem Mohammed Khudair has confirmed Iraq’s ambition to boost its oil production while engaging in discussions with OPEC to enhance its oil exports.

According to Iraqi News Agency, the Oil Minister emphasized that Iraq is distinguishing between its production capacity and export capacity while adhering to the export ceiling established by OPEC. He highlighted that negotiations with OPEC are ongoing to potentially raise this export ceiling, citing Iraq’s unique circumstances and the challenges it has faced over the past fifty years.

The minister also noted that an increase in production rates is justified for Iraq to generate the financial resources needed to develop infrastructure and implement government plans. He reiterated Iraq’s commitment to the production ceiling set by OPEC, which currently stands at 4.431 million barrels per day for Iraq.