U.S. News & World Report | UPDATE 1-Iraq nears oil output capacity of 5 mln bpd, committed to OPEC cuts Reuters Luaibi said current Iraq's oil production is about 4.3 million barrels per day. Despite the increase in oil production from the United States, “so far there is a balance” in the oil market, Luaibi said. “We are watching the market and the market is ... Iraq Nears Oil Output Capacity of 5 Million Bpd, Committed to OPEC Cuts OPEC need not rush into changing oil pact: UAE |