Iraq’s state oil marketing company, SOMO, said on Saturday Iraq sees no need to take any decision to increase its production capabilities beyond what has already been planned for OPEC countries.
In the light of increased demand for energy, Iraq sees the OPEC+ agreement raising its output by 400,000 barrels per day (bpd) a month, sufficient to meet demand and stabilize the market, SOMO added in a statement.
For the latest headlines, follow our Google News channel online or via the app.
“Meanwhile Iraq seeks to increase gas production through increasing investment in gas fields,” SOMO added.
- Climate, COVID-19, and corporate tax tops G20 agenda in Rome
- Saudi Arabia’s King Salman says will support efforts to supply clean energy to world
- Saudi Arabia's Energy Minister says OPEC will not change its strategy
- Putin predicts oil at $100 even as OPEC+ seeks to stabilize global market
- Oil price hits multi-year high on OPEC+ restraint amid tightening energy supplies
- Oil price holds near three-year highs after OPEC+ sticks to output plan