Iraq targets raising daily oil output to 10 million barrels within six years

BAGHDAD, Iraq — Iraq's Prime Minister announced that the country aims to raise its daily crude oil production to 10 million barrels within six years, speaking at an energy forum in Baghdad. He said the increase would build on Iraq's existing production capacity and strengthen its position within OPEC. Government officials said the target can be met by bringing new fields online and increasing output at existing ones. The plan also includes offering new licenses and contract opportunities to foreign investors, according to officials at the forum. Iraq currently produces around 4.5 million barrels of crude oil per day, according to Oil Ministry data, making it one of the largest producers in the Middle East. The forum also addressed expanding natural gas infrastructure and increasing export capacity. Officials said the production target would directly support economic growth and state revenues. No further details on licensing timelines or specific projects were immediately available.