OREANDA-NEWS. Iraq is currently producing 3.25 million barrels per day of oil and exporting 2.5 million bpd, the country's oil minister Abdul Kareem Luaibi said.

 Iraq will add 175,000 bpd of oil output capacity in late September, Luaibi told reporters ahead of an Asian oil ministers meeting in Seoul.

 He also said an oil price of about USD 100 per barrel was fair for consumers.

 Brent oil is currently trading at USD 111.31.