Shahristani: Iraq will be main oil supplier in the world over the next two decades

“Shahristani delivered a lecture entitled (modern global trends in energy economics) at the International Institute for Strategic Studies in the Indian city of Bombay,” The statement of al-Shahristani received by “Shafaq News”.

“Al-Shahristani said during the lecture, which addressed a group of business and entrepreneurs in the energy sector that the increased oil production in Iraq would make it the main supplier globally over the next two decades”.

The statement quoted al-Shahristani as saying that “India can witness a rise in the demand proportion of oil up to 2.7% annually and to rely on Iraq as main supplier in long-term," noting that "the countries of Asia and the Middle East will be the largest market for exporting the Iraqi oil”.

The Iraqi Oil Ministry announced last week unexpected increases in oil production that will be witnessed by the coming period with the start of production in the first four new fields are (Garraf, Majnoon , West Qurna 2 and Badra field).