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  • suppliers economic soybean oil production line in iraq
How much oil is produced in Iraq in 2022?

Because the OPEC+ members are reversing the significant production cuts made in 2020, Iraq¡¯s crude oil production rose to an average of nearly 4.4 million b/d in the first half of 2022. These production estimates include crude oil produced in the semi-autonomous northeast region in Iraq governed by the Kurdistan Regional Government (KRG).

Could Iraq lift oil production to 13 million bpd?

Iraq¡¯s parliamentary oil and gas committee plans to increase the country¡¯s oil production to more than five million barrels per day. Theoretically, Iraq could lift oil production to 13 million bpd. Endemic corruption has strongly impacted growth in oil production in the world¡¯s last major underdeveloped oil frontier.

Why is northern Iraq re-producing a lot of oil?

Northern Iraq production has mostly returned to pre-referendum averages during the past few years because small oil firms increased production at existing fields and brought several small fields online in the KRG-controlled area.

Is Iraq the biggest oil producer in the world?

This would make Iraq the biggest oil producer in the world. In broad terms, Iraq remains the greatest relatively underdeveloped oil frontier in the world.