Iraq plans to reach 7 million barrels per day of oil production by 2027

Iraq aims to increase oil production to about 7 million barrels per day (BPD) in 2027, state oil distributor SOMO Alaa Alyasri told Reuters.

Iraq is currently producing nearly 5 million barrels per day of crude oil, but produced 4.651 million barrels per day in October, according to SOMO. This is in line with production quotas under the Opec + agreement.