Replies to post #340218 on Zeev's Turnips Talk Politics (ZTTP)

[Soul Washer]

Where did you get this from? Iraq produce 2.5 million barrels today. Was this written in the '90's? ROFLMAO..

Instead, Iraq chose competitive bidding that will bring in the best expertise to exploit its national resource. Oil Minister Hussain al-Shahristani is predicting that, with outside help, Iraq could become the second or third largest oil-producing country in the world. Today it produces about 2.5 million barrels a day, compared to 11 million for the world-leading Saudis.


This here below may bring them up to 1 million barrels a day. These measley figures will not do anything for oil prices.

By tapping outside capital and expertise, Iraq hopes to increase production by 60%, providing a much-needed boost to its own coffers and the world's tight oil supply.