Iraq oil output cut continues to reinforce OPEC+ stability efforts. In May, Iraq reduced its crude oil production by 49,000 barrels per day. so This lowered its average daily output to 3.93 million barrels.
The move reflects Iraq’s renewed commitment to OPEC+ targets. Regional tensions and earlier overproduction have pressured the alliance to stabilize the market. Iraq is among the key members taking corrective action.
According to the latest OPEC monthly report, Iraq joined Russia and the UAE in adjusting production. These steps aim to rebalance supply and protect prices. While eight OPEC+ nations planned to raise output by 411,000 barrels per day, the actual increase was much lower. Total output rose by just 154,000 barrels.
The Iraq oil output cut is part of Baghdad’s effort to offset earlier excess production. In past months, Iraq had surpassed its allowed quotas. Now, it aims to align with the group’s overall goals. OPEC+ has been under growing pressure to maintain control amid global supply shifts and political unrest.
Saudi Arabia has played a key role in pushing members to respect production limits. In May, the Kingdom increased its output by 177,000 barrels, reaching 9.183 million barrels per day. Still, Riyadh continues to emphasize market balance over volume.
Tensions in the Middle East have also influenced oil markets. Recent Israeli airstrikes targeted Iranian energy infrastructure. While Iran’s exports remain steady, fears of wider conflict have caused price spikes. On Friday, US crude prices surged to their highest single-day gain in three years, now trading around $73 per barrel.
Even with market turbulence, OPEC officials remain calm. OPEC Secretary General Haitham al-Ghais stated that no immediate action is necessary. He believes supply remains steady and that the alliance should stay focused on long-term balance.
The Iraq oil output cut strengthens unity within OPEC+. Cooperation is crucial as the alliance navigates global demand shifts and regional instability. By taking proactive steps, Iraq signals its role as a committed member of the coalition.
Analysts suggest that continued discipline from all members will support price stability. Iraq’s decision to cut production shows clear support for group-wide cooperation. This could help keep oil prices within a stable range, benefiting producers and consumers alike.