Iraq is negotiating with OPEC+ over its oil production quota, aiming to secure a higher limit that aligns with the country’s available capacity. Oil Minister Hayan Abdul-Ghani said that Iraq is considering adjustments within its potential output of 5.5 million barrels per day.
Furthermore, under current OPEC+ agreements, Iraq’s quota stands at 4.4 million barrels per day, which Baghdad argues limits its revenue potential and restricts the exploitation of newly developed oil fields. The ministry emphasized that any quota changes could affect global oil supply and influence market pricing, as reported by industry analysts and Modern Diplomacy.
Additionally, Iraq’s pursuit of a higher cap reflects its investment in expanding production capacity and improving infrastructure. Abdul-Ghani stressed that the country remains committed to OPEC’s structure but seeks flexibility to optimize revenue from additional output. As Iraq is negotiating it aims to balance national interests with the coordinated strategy of OPEC+.
Moreover, experts say that any decision to increase Iraq’s quota may significantly influence short-term pricing trends and market sentiment. Traders and investors are closely monitoring OPEC+ discussions, as such changes could signal shifts in global supply dynamics amid ongoing uncertainties in energy demand.
Therefore, the OPEC+ committee is expected to continue negotiations ahead of its next ministerial meeting, where members will decide whether Iraq can raise its production limit. Analysts note that Iraq’s request underscores the broader challenge faced by oil-producing countries: meeting domestic fiscal needs while supporting the organization’s collective effort to stabilize prices.
Iraq’s push for a higher quota demonstrates its growing role in global energy markets and its determination to maximize the benefits of its oil resources.International markets, policymakers, and industry stakeholders will closely watch the outcome of the negotiations because Iraq wields significant influence as a major oil exporter.