Iraq’s 5 Million Bpd Oil Claim Complicates Its OPEC Quota Push

Iraq's campaign for a larger OPEC production allocation has taken a complicated turn after Oil Minister Basim Mohammed Khudair said the country is already producing more than 5 million barrels per day, more than half a million barrels above its current OPEC requirement. Khudair's statement raises a basic question over Iraq's current production as OPEC prepares to set production levels for 2027.

431 million bpd. 431 million bpd ceiling, saying October production had increased but giving no figure. Baghdad has spent months trying to persuade OPEC to recognize substantially more Iraqi production capacity. Iraq is seeking a future baseline based on capacity of around 6 million bpd, while OPEC is independently assessing members' maximum sustainable production capacity as it prepares its 2027 production framework.