BAGHDAD (AP) — Iraq's oil minister says the country's daily crude production has exceeded 2.6 million barrels a day.
Abdul-Karim Elaibi says the oil production will reach its planned higher targets "sooner than expected." Elaibi did not set a date for reaching these new levels in comments to reporters Monday.
Iraq has awarded 15 oil and gas contracts since 2008 and plans to reach daily production capacity of 12 million barrels from the current 2.6 million.
Iraq's daily production has "exceeded 2.6 million barrels" on Monday, Elaibi said.
Iraq plans to raise exports to 2.25 million barrels a day in 2011, up from 1.9 million at present.
The current oil exports account for nearly all of Iraq's foreign currency revenues.
