Iraq now produces over 2.6 million barrels of oil per day, the country's new Oil Minister Abdulkarim al-Luaybi said on Monday after a ceremony marking his official takeover of the ministry. 'Today, our production is over 2.6 million barrels per day,' Luaybi told reporters after the ceremony, adding that 'this figure has not been reached for more than 20 years.' Luaybi, who was previously a deputy oil minister, took over from Hussein al- Shahristani, who oversaw the signing of billions of dollars in oil deals that paved the way for global energy majors to return to Iraq more than 30 years after Saddam Hussein kicked them out. Shahristani is now a deputy prime minister. 'We know that developing Iraq's economy and providing funds for finishing projects and providing jobs for people all depend on revenue from oil,' Luaybi said at the ceremony. Iraq's new government was approved by parliament on December 21 after more than nine months of political deadlock and wrangling. Ten ministries are currently headed by interim ministers. 