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U.S. leverages Iraq’s oil production plans to boost energy positioning

Iraqi Prime Minister Ali al-Zaidi said Iraq aims to raise crude output to 8 million to 10 million barrels per day within six years.

Reported · Written up by our desk · Energy

OilPrice says Washington is using its position in Iraq amid ongoing regional tensions, with the U.S. and allies seeking to improve their ability to benefit from Iraq’s expected oil growth.

The outlet points to Iraq’s scale in global supplies, citing U.S. Energy Information Administration estimates of 145 billion barrels of proved crude oil reserves, about 18% of the Middle East total and the fifth-largest globally.

OilPrice also highlights Iraq’s low lifting costs, describing a US$2 to US$4 per barrel range as among the lowest worldwide, alongside Iran and Saudi Arabia.

The piece ties the effort to statements from Iraqi Prime Minister Ali al-Zaidi, who announced plans to increase oil production to between 8 million bpd and 10 million bpd within six years, adding urgency to how the U.S. and partners position themselves.

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