Iraq's oil reserves increase to 153bn barrels

The increased estimate is the result of appraisals and exploration carried out at seven oilfields in central and southern Iraq

Iraq will ask OPEC to adopt the new figure as the official estimate for its reserves.
Iraq will ask OPEC to adopt the new figure as the official estimate for its reserves.

Iraq's oil reserves have increased to 153bn barrels, from a previous estimate of 143bn barrels, oil minister Jabal al-Luaibi said this week.

Iraq will ask the Organisation of the Petroleum Exporting Countries to adopt the new figure as the official estimate for its reserves, he said in a statement.

The increased estimate is the result of appraisals and exploration carried out at seven oilfields in central and southern Iraq, he said.

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