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Iraq will be ‘big player’ at OPEC

Iraq will be a "big player" at OPEC's meeting in Angola later this month over its allocated crude production quota following a string of deals with oil majors, a senior US embassy official said on Sunday.

The Organization of Petroleum Exporting Countries meeting in Luanda on December 22 will come shortly after Baghdad set ambitious output targets at a Friday-Saturday auction of Iraqi oil field contracts to foreign energy companies.

"They're going to have to negotiate with their OPEC partners on that one," the official at the embassy in Baghdad told reporters, on condition of anonymity, referring to Iraq's production aims and its OPEC quota.

"They're going to be a big player that wants to come back to the table, so they're going to have to negotiate with Saudi Arabia, Iran, Venezuela and the other OPEC members."

Iraq currently produces around 2.5 million barrels of oil per day (bpd).

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