Iraqi oil strong competitor in the region-Kuwait Petroleum.

The Kuwaiti Petroleum Company (KPC) said the Iraqi oil as a strong competitor and has an impact on all exporting countries in the region because of its increased production, according to the National Iraqi News Agency.


A statement of the Foundation quoted the Managing Director of the Global Marketing at KPC, Nasser Al-Mudhaf as saying that there is a strong influence from Iraq under the prices and quantities produced with the facilities, adding that the Iraqi oil is a strong contender in the region.

Iraq is seeking to increase its oil production to more than four million barrels per day in 2014 , while Oil Minister Abdul Karim Abdan announced the preparation of plans to raise its oil exports to 3.4 million barrels per day, including 400 thousand barrels from fields in the Kurdistan region.

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