| From Investorschronicle.co.uk: Iraq plans to almost quintuple its oil production capacity by 2017, which could be enough to overwhelm expected demand growth and weigh heavily on the oil price. But will Iraq achieve its ambitious targets?
Iraq has recently agreed service contracts for several large-scale oil projects. These include output commitments that, if met, would boost Iraqi oil output to remarkably high levels. These contracts could almost quintuple Iraq's production capacity by 2017 to 11.75m barrels per day (mb/d), close to the International Energy Agency's projections for Saudi Arabia.......................................Full Article: Source
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