Iraq oil minister Basim Mohammed told the state news agency on Saturday the The country’s crude production has surpassed 5.0 mln bpd. Citing economic shock from the Iran war and increased investment by international oil majors, Iraq is seeking a high

2026-11-07

Iraq oil minister Basim Mohammed told the state news agency on Saturday the The country’s crude production has surpassed 5.0 mln bpd. Citing economic shock from the Iran war and increased investment by international oil majors, Iraq is seeking a higher OPEC quota. The conflict forced large cuts to Iraqi oil exports and pushed government oil revenue sharply lower; oil made up 88% of government revenue last year versus about 55% in Saudi Arabia.