The Organization of Petroleum Exporting Countries won't need to discuss
Iraq
's
quota for years, its Secretary General Abdalla Salem el-Badri said Friday,
despite the country dramatically upgrading its reserves recently.
Iraq
hasn't had a quota for years within OPEC, following supply disruptions after
the U.S.-led invasion of the country in 2003.
Speaking to reporters in a press briefing, El-Badri said: "
Iraq
will
be accommodated [into the quota system]. When? I don't know.
"I am sure they need time before they reach a [production] level where we
can discuss this issue," he said. "Technically it must be a few years
away."
He said a production of 4 million-5 million barrels a day is a "number
where producing countries will discuss the issue."
Iraq
says
its current production is 2.5 million barrels a day.
Earlier this month,
Iraq
's Oil
Ministry raised the country's proven oil reserves by around a quarter to 143.1
billion barrels.
"
Iraq
sent
us an official letter," El-Badri said. "The minister [for petroleum,
Hussein al-Shahristani] told me he will send me the details in a letter."
If the figure is correct,
Iraq
would
have overtaken neighboring
Iran
and
made it the second-largest holder of oil reserves in OPEC. But Monday,
Iran
announced its proven oil reserves had risen 9% to 150.31 billion barrels,
partly driven by new discoveries.
"
Iran
, we
heard it in the news but we haven't received any official letter from
them," El-Badri said. "I expect this will come in the future.
"This a member country's sovereign right [to upgrade reserves]. We don't
question them that much."
About OPEC's decision to hold its next meeting in
Ecuador
,
which has faced unrest in recent weeks, El-Badri said he isn't concerned about
security there.
Asked about
Iran
--who
will preside OPEC amid mounting international sanctions--he said :"I am
not concerned. OPEC is separated [from] any other political activity."