Iraq's minister says U.S. deals worth up to $200 billion

Investing.com -- Iraq's oil ministry signed agreements with U.S. companies valued at up to $200 billion during Prime Minister Ali al-Zaidi's visit to the United States, Oil Minister Basim Mohammed said today.

The minister told Iraqi state television that the agreements will add production capacity and boost investment in associated gas projects.

Iraq's current oil production capacity stands at 4.8 million barrels per day, Mohammed said.

The country faces the same challenge as other oil-producing nations in attracting investment and expanding production while adhering to OPEC+ output limits.

Iraq holds some of the world's largest crude oil reserves. Production restraints have made it difficult for the country to increase revenues needed to support its growing population.

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