Iraq asks OPEC+ for bigger oil output allowance
Iraq's current OPEC+ production target is 4.431 million barrels a day, while Iraq claims its output tops 5 million.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
Iraq is seeking a higher OPEC+ production quota through talks with OPEC, according to Oil Minister Bassim Khudair. Khudair said Baghdad remains committed to the export ceiling OPEC has set. Iraq also claims it produces more than 5 million barrels per day, above its current target.
Why it matters
The claimed output could be at least 569,000 barrels per day above Iraq's current OPEC+ target. That gap complicates Iraq's push for a higher quota.
Timeline
- Nov 7, 10:00 AM ET: The Oil Ministry said Iraq is seeking to raise its OPEC+ production ceiling while staying committed to the agreed limit.
- Nov 7, 10:39 AM ET: Iraq said it produces more than 5 million barrels of oil per day and is seeking a higher OPEC production quota.
- Nov 8, 1:23 AM ET: Khudair told the Iraqi News Agency that Iraq is pursuing a higher export ceiling through talks with OPEC and remains committed to the current ceiling.
- Nov 8, 7:00 PM ET: Analysis said Iraq's 5 million barrels per day claim could put its output at least 569,000 barrels per day above its 4.431 million target.
Coverage
- Middle East oil flows recover slowly as Hormuz risks persist
- OPEC output recovers near pre-conflict levels as Brent tops $90
- OPEC+ holds output steady as Iraq seeks bigger quota
- Iraq seeks higher OPEC quota as output claims face doubt
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