Iraq Is in Talks With OPEC to Boost Oil Output Once War Ends

Iraq, OPEC’s second-biggest oil producer before the Iran war, said it plans to increase its output capacity and is in talks with the group to raise production to 5 million barrels a day once the conflict is over.

The country is currently pumping just 1.4 million barrels a day due to the closure of the Strait of Hormuz and the knock-on impact on production facilities, incoming Oil Minister Basim Muhammad Khudhair said in Baghdad on Saturday. He didn’t specify a timeframe for the targeted hike in output.

Along with other Persian Gulf producers, Iraq has suffered considerable losses during the ...