Shafaq News/ OPEC+ agreed, on Tuesday, to gradually raise Iraq’s oilproduction quota, reaching 4.11 million barrels per day (bpd) by the end of2025.
According to media reports, ministers from the eight-memberalliance—comprising Iraq, Saudi Arabia, Russia, the UAE, Kuwait, Kazakhstan,Algeria, and Oman—reviewed global market conditions and future projectionsbefore deciding on the phased output increase.
Under the agreement, Iraq’s production quota will rise by 12,000 bpd inApril to 4.012 million bpd, followed by another 12,000 bpd increase in May,bringing the total to 4.024 million bpd. By December, Iraq’s production willreach 4.11 million bpd. The quota is set to increase further to over 4.22million bpd between September and December 2026.
OPEC+ has implemented voluntary cuts totaling 2.2 million bpd, withplans to gradually restore production from April, while retaining flexibilityto adjust based on market conditions.
The group continues to enforce an official 2 million bpd production cutthrough 2026. Additionally, voluntary cuts of 1.65 million bpd—announced inApril 2023—are set to remain in place until the end of next year. A separate2.2 million bpd cut, introduced in November 2023, will stay effective throughMarch 2025.