BAGHDAD, September 9 (Reuters) — Iraq is seeking a higher oil production quota as OPEC and its allies review members’ production capacity to determine output targets for next year, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Iraq wants OPEC+ to calculate its production target from a baseline capacity of 6 million barrels per day, according to the report.
Why is Iraq seeking a higher production quota?
The move comes as OPEC+ reviews the production capacity of its members ahead of setting new output targets for next year.
A higher baseline could allow Iraq to secure a larger production allowance under the OPEC+ framework, which coordinates oil output among major producers.
What is OPEC+ reviewing?
OPEC+ is assessing members’ production capacities as it prepares to establish new baselines for future quotas. The group recently kept its October oil output policy unchanged while attention shifted toward the more consequential debate over production targets for 2027.
Iraq is among the core OPEC+ members involved in the group’s production decisions.