Iraq authorities forecast record level of oil production in 2015

Date: 09:44, 19-01-2015.

Almaty. January 19. KazTAG - Oil production volume in Iraq will reach the historical maximum making up 4 mln barrels a day, reports the TASS news agency with a reference to Abdel Abdul Mahdi,  Minister of Oil of Iraq.
"Oil export made up about 3 mln barrels a day last month. Following recent agreement with the Iraqi Kurdistan oil production will reach 4 mln barrels a day this year," he said indicating that the volume will become historical maximum for the state,
"Iraq is taking efforts investing big funds to reach this goal," he said.
In his words, "production volume will compensate prices fall for crude product". In his words, "The Ministry of Oil has continued developing the budget based on $60/barrel price". In his words, "oil prices will keep on growing since the second quarter this year", however "they will hardly turn to the indexes of last year".

Share the news: