Iraq has formally requested its OPEC+ oil production baseline be raised to 6 million barrels per day, representing an increase of approximately 1.57 million bpd over its current quota of around 4.431 million bpd. The International Energy Agency, however, estimates Iraq’s sustainable production capacity at only 4.9 million bpd, while actual production in August 2026 ranged between 2.98 and 3.37 million bpd. The request comes as an independent consultant conducts a capacity review expected to conclude by the end of September, with formal ministerial ratification scheduled for November. Major energy companies BP, TotalEnergies, ExxonMobil and Chevron, which have partnered with Iraq on expansion projects, have significant stakes in the outcome of these negotiations.
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