Iraq targets more than doubling oil output by 2032

· Energy · Iraq

Iraq has set an ambitious target to more than double its oil production by 2032, according to a report. The goal would sharply increase the OPEC member's output at a time when global oil prices have slumped and producers are weighing supply restraints.

Why it matters：A major OPEC producer planning to double output could reshape global oil balances and the cartel's supply strategy.

Key points

  • Iraq is an OPEC member.
  • The target year is 2032.
  • Oil prices have recently fallen to their lowest since August.

Sources (original reporting)

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