Iraq urges OPEC+ to revise oil quota ahead of key meeting

Iraq’s Prime Minister Mohammed Shia al-Sudani on Saturday called on OPEC+ to reconsider his country’s oil export quota, arguing it should better reflect Iraq’s production capacity.

The statement comes a day before eight OPEC+ members meet to discuss a potential increase in output, reversing previous cuts. Iraq, often criticized for overproducing, reported average exports of 3.38 million barrels per day in August and expects up to 3.45 million bpd in September. While the group has already raised production by 2.5 million bpd since April, Sudani said Baghdad is pushing for adjustments and plans to ease the entry of major oil firms like Chevron and TotalEnergies.

NN: This should get interesting