Iraq Pushes OPEC for a Huge Increase in Its Oil Quota
Baghdad says the higher baseline would help fund reconstruction as its August output averaged 2.98 million barrels a day, Bloomberg reported.
- Iraq formally lobbied the OPEC alliance on Wednesday for an upward revision of its production baseline to 6 million barrels per day, seeking to replace its existing output constraint of 4.431 million bpd in place for September and October 2026.
- Prime Minister Ali Al-Zaidi cited reconstruction damages exceeding $400 billion sustained during the conflict against ISIS, framing the request as an economic necessity to rebuild critical infrastructure and service post-war deficits.
- The Energy Agency estimates Iraq's sustainable operational capacity at roughly 4.9 million bpd, creating a 1.1-million-bpd discrepancy against Baghdad's requested target that complicates approval during November's ministerial review.
- Escalating maritime security tensions surrounding the Strait of Hormuz restricted August 2026 production flows to 2.98 million bpd, keeping traffic well below pre-war levels despite Iran's exemption for Iraqi tankers.
- OPEC has commissioned an independent audit of member states' Maximum Sustainable Capacity by late September, with findings scheduled for ministerial ratification in November, while The Ministry dismissed exit speculation, affirming discussions remain constructive.
13 Articles
13 Articles
Iraq seeks output quota increase in OPEC+ audit, Bloomberg News reports
(Seoul = Yonhap News) Reporter Hyun Young-bok = Iraq, one of the major oil-producing nations, is pushing for a plan to expand its crude oil production quota to 6 million barrels per day...
Iraq Pushes OPEC for a Huge Increase in Its Oil Quota
Iraq has asked the OPEC leadership for a significantly higher crude oil production baseline for future quotas, Bloomberg has reported, citing unnamed sources with knowledge of the matter. According to these sources, Baghdad wants its future quotas in the group to be set on a daily production baseline of 6 million barrels of crude. This is substantially higher than the country’s current production rate, which, as of August, stood at some 3.37 mil…
Iraq is demanding a significant increase in its production quota under the Organization of the Petroleum Exporting Countries (OPEC). According to sources, Iraq, the organization’s second-largest oil producer, wants future targets to be calculated based on a base level of 6 million barrels per day. This is a significant increase compared to the current level. Iraq’s OPEC+ production limit for September and October […]
Iraq is seeking to substantially raise its share of oil production, in conjunction with a review by the Organization of the Petroleum Exporting Countries (OPEC) and its allies of the capabilities of member States, in preparation for determining the quantities of oil that can be pumped next year, according to well-informed people who spoke to Bloomberg. People who have asked not to reveal their identity to the confidentiality of the operation sai…
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