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Iraq's oil capacity goals are flexible

09 April 2011

Hussain al-Shahristani, Iraq's deputy prime minister for energy, has said the country's theoretical oil capacity goal of roughly 12 million barrels per day (bpd) might not be reached, as it focuses on maximising revenue, not output, and reassesses world needs, Reuters has reported. "When I talk about production capacity of 11-12 million barrels per day - which is on par with Saudi Arabia , that doesn't mean Iraq will necessarily produce at that level. Our strategy is to maximise our revenue and not to maximise our production," he said.

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