Reuters cited Mr Abdul Kareem Luaibi Oil Minister of Iraq as saying that Iraq's oil production has exceeded 3.2 million barrels a day so far this month and it hopes to hit capacity of 4 million barrel per day in 2014.
Mr Luaibi said that "Next year we're planning production close to 3.7 million barrel per day."
Iraq, rebuilding its energy industry after decades of war and sanctions, has emerged as the second biggest producer in the Organization of Petroleum Exporting Countries.
He said that "There will be another debate in the first months of the New Year should be by the end of May 2013."
Saudi Arabia has also pressed for Iraq to join any future rounds of supply curbs that OPEC makes to support prices if energy markets weaken.
But Baghdad has insisted it should first regain the 4 million barrel per day output capacity it lost during the 1980-88 war with Iran.
He added that "We haven't reached the quota that was set over 40 years ago. We haven't reached it yet. The issue of quotas will for sure need to be reviewed based on many indicators such as production capacities and reserves and others. It is known that Iraq was deprived for many years because of the wars."
Source:
http://www.steelguru.com/middle_east_news/Iraq_targets_4_million_barrel_per_day_oil_output_for_2014/296519.html
