More from Iraq's oil minister
Close to deal with international firms to help expand its oil output and export capacity
Seeks to diversify export outlets, including new pipelines
Seeks to reach export capacity of 8.5 mbpd in coming years, including 6.5mbpd from southern Iraq fields
Hopes to reach deal 'very soon' to increase Kirkuk output
Seeks output capacity of 5mbpd in 2019
Everyone wants to increase capacity but Iraq is a rare market that's lacked investment. Better stability there could draw investment, especially with Iran's sanction. At the moment, the market isn't looking out beyond a few months but 8.5 mbpd from Iraq would certainly be a headwind for crude; all else equal.
