It will be four to five years before there is a need to recommand Iraqi oil output within OPEC’s oil production policy, OPEC Secretary-General Abdullah al-Badri said today.
“When they reach the point that they have to be accommodated, maybe it will not be for four to five years from now,” Reuters quoted Badri as saying.
“At the end of the day Iraq is a founder member,” Badri added. “I’m sure a solution will be found.”
Badri was speaking at an oil conference.
Iraq has targeted a sharp rise in its production after signing deals with international oil companies.
It is not assigned an OPEC production target.