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Iraq's oil production to more than double by 2020: IEA
- Iraq: Wednesday, October 10 - 2012 at 02:30
The International Energy Agency (IEA) has said Iraq's oil output is on track to more than double in the next decade, supplying almost half the growth in world oil output and making the country a key driver of future crude prices, the Wall Street Journal has reported. Iraq's oil production could hit 6.1 million barrels a day by 2020 and 8.3 million barrels a day by 2035, compared with just over three million barrels a day now, the IEA forecast in a special report on the country. The expansion will make Iraq "by far the largest contributor to global supply growth" over the next 20 years, taking the place of Russia as the world's second-largest oil exporter, it said.
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