Iraq aims to boost oil output to 8-10 million bpd in six years
Iraq is seeking a higher OPEC quota as it plans to lift oil output to 8 million to 10 million barrels per day within six years.
- On Friday, Prime Minister Ali al-Zaidi announced Iraq is targeting output of 8 million to 10 million barrels per day within six years. The country sent a delegation to Saudi Arabia seeking a higher OPEC production quota to support this goal.
- Before the war with Iran slowed flows through the Strait of Hormuz, production previously reached 4 million barrels per day. Exports through the chokepoint have recently recovered to around 2 million barrels per day, though traffic remains significantly below pre-war levels.
- Iraq is partnering with oil giants including Chevron, TotalEnergies, and BP to develop fields like Nassiriya and West Qurna 2. West Qurna 2 currently produces 460,000 barrels per day, accounting for nearly 10% of Iraqi output.
- Al-Zaidi plans to expand export capacity through Turkey's Ceyhan port, with new routes proposed through Syria's Baniyas and Jordan's Aqaba. A proposed pipeline to Syria would cost at least $15 billion and take four years to construct.
- OPEC has hired DeGolyer and MacNaughton to independently assess member production capacity by the end of September. These findings will influence upcoming negotiations over production baselines for 2027 as Iraq pursues its ambitious output goals.
13 Articles
13 Articles
Iraq Wants to Double Oil Output—and Needs OPEC to Get Out of the Way
Iraq wants to more than double its oil production within six years. First, it needs OPEC to let it. Baghdad is targeting output of between 8 million and 10 million barrels per day, up from roughly 4 million bpd before the Iran war, Prime Minister Ali al-Zaidi said Friday. Iraq dispatched its oil and finance ministers to Saudi Arabia the same day to make the case for a higher OPEC production quota. OPEC+ has hired DeGolyer and MacNaughton to inde…
Iraq aims to boost oil output to 8-10 million bpd in six years
Iraq PM seeks oil production rise to 10m barrels a day
BAGHDAD: Iraq’s prime minister said Friday that he wants to increase the country’s oil production to as much as 10 million barrels a day within six years. Crude oil sales account for nearly 90 percent of Iraq’s revenue but its exports have been hurt by the outbreak of the Middle East war between Iran and the United States, which choked off the Strait of Hormuz. Iraq, an OPEC
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