Iraq Targets 8–10 Mmbbl/d Output Within Six Years

Iraq plans to increase crude oil production to 8 million–10 million barrels per day (mmbbl/d) within six years, more than doubling its pre-conflict output of around 4 mmbbl/d, as Baghdad seeks to expand its production capacity and secure a larger share of the Organization of the Petroleum Exporting Countries (OPEC) market.

Iraqi Prime Minister Ali al-Zaidi announced the target at the Baghdad Dialog policy conference on August 21, according to Reuters, adding that Baghdad has sent a delegation, including the oil and finance ministers, to Saudi Arabia to seek a higher production quota from OPEC.

The production expansion comes as Iraq, OPEC’s second-largest producer after Saudi Arabia and one of the organization’s five founding members, seeks to capitalize on new upstream investment while reducing its vulnerability to disruptions affecting its traditional export routes through the Strait of Hormuz.

Baghdad’s push for a higher quota comes as OPEC and its allies (OPEC+) prepares to establish new production baselines for 2027. The producer alliance has commissioned DeGolyer and MacNaughton to assess members’ production capabilities, with the results expected in September. The assessment is expected to contribute to negotiations over members’ 2027 baselines.

In June, Iraq was said to have a production quota of 4.378 mmbbl/d for July.  The country was reported to be working with OPC + to gradually restore Iraq’s particularly the voluntary cuts, as part of efforts to increase the country’s production capacity over the coming months.