Iraq seeks a significant OPEC+ output-quota increase from a 6 million b/d baseline in the capacity audit. Current ceiling 4.431M b/d; IEA sustainable capacity ~4.9M; August pump ~2.98M.
Iraq is seeking a significant increase in the country’s oil production quota as OPEC and its allies conduct a review of members’ capacities aimed at determining how much they can pump next year, according to people familiar with the matter, Bloomberg reported (Khalid Al Ansary, Grant Smith, and Fiona MacDonald; September 8, 2026 at 10:07 PM PDT).
The group’s second-biggest producer wants future targets to be calculated from a baseline of 6 million barrels a day, a big upgrade from its most recent level, the people said. They asked not to be identified as the process is private. Iraq’s oil ministry didn’t respond to a request for comment.
OPEC and its partners have tasked an external consultant with assessing the maximum level individual members can physically produce in order to better align quotas with reality. The process is due to be completed at the end of this month, and ratified by oil ministers when they meet in late November.
Whether a level of 6 million barrels a day would be recognized is highly uncertain. Iraq’s OPEC+ production ceiling for September and October stands at 4.431 million barrels a day. The International Energy Agency estimates Baghdad’s total sustainable capacity at 4.9 million a day. The country pumped an average of 2.98 million barrels a day in August, according to a survey compiled by Bloomberg.
In May, Oil Minister Basim Mohammed Khudair said Iraq was in talks with OPEC to raise production to 5 million barrels a day once the Iran conflict ends, while Prime Minister Ali Al-Zaidi said this month that the country aimed to reach approximately 10 million barrels a day by 2030.
Also Iraq Hormuz tankers, Basra sales, and Oil Asia Brent near $100.
Informational only. Not trading advice, signals, or a guarantee of any market outcome.
Written and fact-checked with AI assistance, reviewed by a human editor before publication.
No comments yet. Be the first to share your view.
Brent nears $100 in Asia after CENTCOM tanker strikes: Reuters $99.33, CNBC $99.44, BBC $99.35. WTI stamp split — wire mid-$94s vs a separate Asia page near $92.50 — each quoted, not averaged.
Trump orders import bans on Canadian alcohol, dairy and motorbikes from Sep 29 as Ottawa’s counter-tariffs hit. BBC stamps mopeds among full bans; a secondary write-up says motor vehicles. USD/CAD near 1.3780.
CENTCOM destroys five IRGC crude carriers after missile attacks on a U.S. warship. Oil briefly hit $99.46; Iran fired on U.S. forces in Jordan. IRGC destroyer-damage claims remain unverified.