Iraq Pushes for Higher OPEC+ Oil Quota

Iraq is striving to increase its oil production quota as OPEC and its allies review member capacities for next year. The country advocates for OPEC+ to set targets based on a 6 million barrels per day baseline, reflecting its growing ambitions in the oil sector.

Iraq is seeking a boost in its oil production quota as OPEC and its partners assess the production capabilities of member countries for the next year, according to sources familiar with the situation, Bloomberg News reported.

The Middle Eastern nation is urging OPEC+ to establish production targets using a baseline of 6 million barrels per day, marking a significant step in Iraq's oil production ambitions.

This move comes as the country aims to leverage its substantial oil reserves, aligning with its economic strategies and projected output growth in the energy sector.