Iraq plans to increase its oil output and export capacity in 2019, with a focus on its southern oilfields, and is close to reaching a deal with international companies, Oil Minister Thamer Ghadhban said on Tuesday. The new minister also said the shortfall in oil supply caused by new U.S. sanctions on Iran had yet to be gauged before Iraq and other OPEC members could decide what action to take ahead of their policy meeting next month. Iraq, OPEC’s second-largest producer, is targeting production capacity of 5 million barrels per day (bpd) in 2019, with average exports expected to reach around 3.8 million bpd. Iraq currently pumps around 4.6 million bpd, second only to Saudi Arabia in the Organization of the Petroleum Exporting […]