12:26 - 9.09.2026

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September 9, Fineko/abc.az. Iraq, the second-largest producer in OPEC, is demanding a baseline quota increase to 6 million barrels per day (bpd). The target significantly exceeds its current OPEC+ ceiling of 4.43 million bpd and its total sustainable capacity estimated at 4.9 million bpd by the International Energy Agency. Sources indicate that Baghdad may consider exiting the organization if a higher baseline is not granted.

External consultants commissioned by OPEC+ are expected to finalize their physical capacity assessments by the end of this month for approval at the November ministerial meeting. Iraqi officials remain steadfast, with Prime Minister Ali al-Zaidi setting a long-term target of 10 million bpd by 2030. Coupled with reports of Venezuela evaluating its own membership, Iraq's stance places severe pressure on OPEC's institutional cohesion.