Prime Minister Ali al-Zaidi announced Friday that Iraq plans to increase oil production to between 8 and 10 million barrels per day (bpd) over the next six years. To support this expansion, Iraq sent its oil and finance ministers to Saudi Arabia to formally request a higher production quota from OPEC.
The strategic push follows significant shipping disruptions in the Strait of Hormuz caused by ongoing regional conflict. Crude oil sales currently generate nearly 90% of Iraq's total revenue. The government is now developing alternative export routes through Turkey’s Ceyhan port, Syria, and Jordan to bypass logistical bottlenecks.
Iraq produced approximately 4 million bpd before the recent conflict. Al-Zaidi argues that the country deserves an export share proportional to its population size and oil reserves.