Iraq Boosts Oil Exports Amid Ongoing OPEC+ Adjustments

Iraq has increased oil exports as OPEC+ relaxes production cuts. The move comes as part of a broader agreement among eight OPEC+ members to raise production by 137,000 barrels per day, potentially bringing additional revenues at current oil prices. Iraq's exports rose to an estimated range of 3.4-3.45 million barrels per day in September.

Devdiscourse News Desk | Updated: 21-09-2025 19:50 IST | Created: 21-09-2025 19:50 IST

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Iraq has ramped up its oil exports, taking advantage of the gradual easing of production cuts mandated by an OPEC+ agreement, according to the state oil marketer SOMO.

This follows an agreement among eight OPEC+ members to boost production by 137,000 barrels per day from October, a shift from previous strategies aimed at supporting the oil market through cuts.

The increase in Iraq's exports is expected to substantially enhance national revenues, as stated by SOMO's Ali Nizar Al-Shatari. Prime Minister Mohammed Shia al-Sudani hopes the OPEC+ will reassess Iraq's export quota to align with its production capacity.