Could Iraq Dethrone Saudi Arabia As Largest Oil Producer?

Iraq’s Oil Minister, Ihsan Abdul-Jabbar, last week stated that the country aims to increase its crude oil production to 6 million barrels per day (bpd) by the end of 2027. This sort of statement, with the amount or year changed slightly in each variant, has been made by several oil ministers on several occasions, but with oil prices still at supportive levels for producers this latest statement prompts three key questions: can it be done; can even more be done; and will it be done?  The answer to the first question is yes. As analysed…