London — The Iraqi oil minister said on Tuesday that oil projects are being delayed in his country because of the OPEC+ production cuts, but he expects an oil price recovery from the second quarter of next year to help the sector.
“I think quarter two, 2021 will be more attractive to every aspect of our business,” Ihsan Abdul Jabbar told the CWC Iraq Petroleum conference.
He said he expects Iraq will raise its production capacity to 7 million barrels per day in the next five to six years, from around 5 million bpd now.
(Reporting by Ahmed Rasheed and Ahmad Ghaddar, editing by Louise Heavens and Susan Fenton)
