Oil Output to hit 4.15m bpd in 2022

By John Lee.

According to a report from Bloomberg, the International Energy Agency (IEA) has predicted that Iran will increase its oil production capacity by 400,000 barrels per day (bpd) to reach 4.15 million bpd by 2022.

The Paris-based agency also forecasts that neighbouring Iraq will retain its position as OPEC’s second-biggest producer, adding 700,000 bpd to reach 5.4 million bpd by 2022; most of the increase will come from southern oilfields, such as the Shell‘s Majnoon project.

(Source: Bloomberg)

No comments yet.

Leave a Reply