Iraq’s crude oil output has increased by approximately 300,000 barrels a day following the engagement of several foreign oil companies in the redevelopment of the country’s biggest oil fields, a senior Iraqi oil official said, according to The Wall Street Journal. Iraq’s output has risen to 2.7 million barrels a day and is expected to reach some 3 million barrels per day by the end of the year, according to Abdul Mahdy al-Ameedi, who heads the country’s Petroleum Contracts and Licensing Directorate.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.