Iraqi Oil Production Still Below Target

The U.S. has spent $2.7 billion to try to reconstruct the Iraqi oil industry, but has had little success amid security problems, sabotage, widespread corruption and theft, the investigative arm of Congress said Wednesday.

Iraq produced more than 2 million barrels per day of oil in May, short of the U.S. government’s goal of 3 million barrels of daily production, a level that hasn’t been reached in nearly 30 years, the Government Accountability Office said in written testimony to a House subcommittee.

Forbes