Iraq aims to boost oil output in OPEC
Iraq has expressed confidence that its request to increase its production quota within OPEC will be viewed positively, attributing it to the exceptional circumstances it has experienced over the past four decades, reflecting a high-level understanding among the member countries. This comes ahead of the upcoming OPEC+ alliance meeting scheduled for July 5, during which future production quotas will be discussed, with Iraq targeting an output of around 5 million barrels per day in the near term and 7 million barrels before the end of the decade. In June, major countries agreed to raise the collective production ceiling by 188,000 barrels per day.
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