Iraq seeks higher OPEC quota as output claims face doubt
Iraq's push for a larger share of OPEC+ oil production comes amid disputed figures on how much crude it actually pumps.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Iraq is negotiating with OPEC to raise its oil output ceiling and secure a larger export cap, with Oil Minister Basim Khudair leading the effort. Baghdad claims production above 5 million barrels per day, well over its current OPEC+ target of 4.431 million, but independent analysts' measurements show a large gap that could derail the campaign.
Why it matters
Iraq's plan is to reach 7 million barrels per day by 2030 and 10 million by 2032. The gap between official claims and measured output threatens its bid for a higher quota.
Timeline
- Nov 8, 7:00 PM ET: Iraq claimed its oil production exceeds 5 million barrels per day, above its OPEC+ target of 4.431 million barrels per day.
- Nov 9, 7:22 AM ET: Iraqi Oil Minister Basim Khudair said Iraq seeks to negotiate with OPEC to raise its output and obtain a larger export cap.
- Nov 9, 10:40 AM ET: Independent analysts' measurements showed a gulf of about 900,000 barrels per day between Baghdad's stated output and actual production, threatening its campaign.
- Nov 9, 6:20 PM ET: Iraq plans to raise oil production to 7 million barrels per day by 2030 and 10 million by 2032 while negotiating a higher export quota with OPEC.
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 asks OPEC+ for bigger oil output allowance
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