Today, Saturday, November 7, 2026, Bassem Mohammed Khazir, Iraq’s oil minister, said Iraq produces more than five million barrels of oil per day, noting that there is a difference between the country’s production capacity and its export capacity.
The oil minister explained: "OPEC has set Iraq’s production quota at four million 330 thousand barrels per day, while Iraq’s actual production level is above five million barrels. However, the Ministry of Oil is fully committed to the export limit set by OPEC".
Bassem Mohammed Khazir revealed that talks with OPEC are currently ongoing to increase Iraq’s oil export quota, taking into account Iraq’s specific circumstances and the difficult conditions it has endured over the past five decades. He also stressed that Iraq deserves to have its export levels increased so it can secure the financial revenues needed to develop infrastructure and implement the government’s plans.
