Iraq continues to follow global energy shifts as the OPEC oil cuts policy shapes production across member states. The alliance builds a clear plan and focuses on long-term stability through careful output control. Iraq supports this strategy and confirms its commitment to the new direction. Moreover, officials describe how the policy helps markets handle uncertainty and price changes.
OPEC+ leaders meet and confirm a final increase of 137,000 barrels per day for December. After this step, the group freezes all production changes during the first quarter of 2026. Iraq states that the alliance keeps its current production targets until the end of 2026. The ministry also notes that the Joint Ministerial Monitoring Committee continues its work. This committee studies market behavior and suggests needed actions. Therefore, the OPEC oil cuts plan gains wider support.
Iraq also joins a separate meeting with eight other producers. These states include Saudi Arabia, Russia, the UAE, Kuwait, Kazakhstan, Algeria, and Oman. They all agree to keep their voluntary cuts unchanged. They introduced 1.65 million barrels per day in voluntary cuts in 2023. Later, they added 2.2 million barrels per day during the same year. These measures helped markets avoid sharp disruptions. The group also began easing these cuts with monthly increases of 137,000 barrels per day. December marks the third step in this slow easing process.
However, the alliance keeps the option to change direction whenever needed. Members can pause, continue, or reverse the planned increases. Their decisions depend on market movement, global demand, and financial pressures. Iraq highlights the importance of flexibility because sudden changes can harm the energy sector. The OPEC oil cuts strategy gives the group enough control to respond quickly.
OPEC+ supplies around 40 percent of the world’s crude. Because of this influence, every small adjustment shapes global prices. The group now holds combined cuts of nearly 3.66 million barrels per day. Current production stands at 39.725 million barrels per day. Iraq believes these levels support balance and prevent oversupply. The ministry also says the plan helps smaller economies handle global uncertainty.
Iraq views this direction as a strong move for long-term stability. Officials continue to coordinate with producers and monitor market signals. They also focus on local production plans and energy development. Iraq expects stronger revenue protection through the OPEC oil cuts framework. This approach strengthens national planning and supports future economic growth.