Iraq approaches OPEC to raise oil output ceiling

People walk by the headquarters of OPEC as the logo is seen on its facade in Vienna, Austria. Baghdad (IraqiNews.com) – Iraqi Oil Minister Basim Khudair said that Iraq seeks to negotiate with OPEC to raise its oil output and obtain a larger export cap. Although the country’s production capacity differs from its export capability, Khudair stated that Baghdad was still committed to the export quota set by OPEC. Iraq’s discussions with OPEC took into account the challenges the country has faced over the past 50 years, as noted by Khudair. The Iraqi minister indicated that Iraq deserves a rise in output to secure the financial revenues needed to expand infrastructure and implement government goals. Additionally, Khudair reiterated Iraq’s commitment to the 4.43 million barrels per day production cap set by OPEC. In early September, Iraqi Prime Minister Ali al-Zaidi called for an increase in oil output to reach 10 million barrels per day by 2030. According to al-Zaidi, Iraq’s oil output should be proportionate to its reserves, oil production capabilities, and the growing number of the population, allowing it to satisfy its residents’ needs as well as development requirements. Iraq’s oil production reached approximately 4.5 million barrels per day by the end of 2025. According to al-Zaidi, the Oil Ministry will invite major foreign oil firms to a conference to attract investments, expertise, and technologies.