Iraq leads capacity expansions

摘要

Iraq is leading Opec's efforts to increase crude output capacity. The organisation's members will invest $280bn in 166 upstream projects over five years to boost capacity, secretary-general Abdullah al-Badri says. These projects will provide a net increase of around 7mn b/d of crude and condensate output. But al-Badri cautions that "investment decisions and plans will obviously be influenced by various factors, such as the global economic situation, policies and the price of oil".