Iraq Benefiting From High Oil Prices

Iraq is experiencing high oil production and exports

By: Emily Forrester | WKRG-TV
Published: June 03, 2008

» Comments | Post a Comment

Iraq is producing and exporting a lot more oil.
The country's Oil Ministry says both production and exports are
at their highest level since the U.S.-led invasion in March of
2003.
A spokesman tells The Associated Press that Iraq's exports
reached 2.11 million barrels a day in recent weeks, and that total
output reached 2.5 million barrels a day.
Iraq is hoping to boost oil output to 3 million barrels a day by
the end of 2008, and 4.5 million barrels a day by the end of 2013.
If crude oil prices remain high, Iraq is hoping to earn about 70
billion dollars in oil revenues this year.