Iraq, OPEC+'s second-largest oil producer, seeks a significant increase in its production quota, aiming for a target baseline of 6 million barrels per day.

(1) Informed sources have revealed that Iraq is seeking a substantial increase in its oil production quota during the process in which OPEC+ member countries assess production capacity to determine the 2026 output ceiling. As the organization's second-largest oil producer, Iraq hopes to set the capacity assessment benchmark at 6 million barrels per day, a significant increase over the current benchmark level. (2) This request indicates that Iraq plans to further expand its production share based on its current output. If approved, it would have a major impact on the global crude oil supply structure and the internal quota allocation within OPEC+. (3) The relevant discussions are currently confidential, and Iraq's Ministry of Oil has yet to respond to requests for comment. The final decision is expected to be announced after OPEC+ completes all capacity assessments.