Iraq Aims for 300,000 BPD OPEC Output Boost, Targeting $10 Billion in Annual Revenue

Iraq aims to increase its share of oil production within the Organization of the Petroleum Exporting Countries (OPEC) by approximately 300,000 barrels per day (bpd), a move projected to yield up to $10 billion in annual revenues. This was stated by Mazhar Saleh, financial advisor to the Prime Minister.

Saleh, speaking to the Iraqi News Agency on Tuesday, clarified that the targeted increase would be “gradual and limited to between 150,000 and 300,000 bpd, and potentially higher.” He emphasized that such a rise “would not pose a threat to market balance if it aligns with collective production adjustments adopted by OPEC+,” referring to the broader alliance of oil producers.