Iraq’s Output Claim Raises Questions Over OPEC+ Target
The oil minister says production tops 5 million barrels a day, while independent September estimates were lower and October data is pending.
Key takeaways
- Iraq’s oil minister said production exceeds 5 million barrels per day.
- The IEA estimated Iraq’s September production at 4.10 million barrels per day.
Iraq’s Oil Minister Basim Mohammed Khudair said the country is producing more than 5 million barrels per day, above its OPEC+ requirement of 4.431 million. The claim complicates Baghdad’s push for a larger production allocation.
Khudair said Iraq remained compliant because its exports were within what he called the group’s export ceiling. But the current requirement is a crude production target, and OPEC assesses compliance using estimates from independent secondary sources.
The IEA estimated Iraq’s September production at 4.10 million barrels per day. Iraq reported 4.399 million barrels per day to OPEC for that month, while the ministry said October production had risen without giving a figure.
OPEC has not yet published its first secondary-source estimate for October, so there is no independent OPEC figure confirming Khudair’s claim.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
