Iraq, the second-largest producer in OPEC, won’t reach its target of pumping 4.5 million barrels of oil a day by next year and plans to announce revised production goals in April, senior government officials said.
The next meeting of the Iraqi parliament has been postponed until Nov. 11, al-Arabiya television said, citing Fuad Massoum, acting speaker of the assembly. He had called for lawmakers to return to the chamber on Nov. 8. Since the inconclusive March 7 election, lawmakers have met once, on June 14.
Iraq will honor contracts to buy Russian helicopters and air-defense systems, though for “far less” than $4.2 billion announced by Russia, Foreign Minister Hoshyar Zebari said in an interview with Voice of Russia.
Russia is unlikely to receive any compensation if Iraq has scrapped a $4.2 billion contract to buy weapons, Ruslan Pukhov, head of the Center for Analysis of Strategies and Technologies in Moscow, said today.