Iraq aims to raise its oil export ceiling from OPEC despite production exceeding 5 million barrels per day.

Oil Minister Basem Mohammad Khudair confirmed on Saturday that Iraq's oil production exceeds 5 million barrels per day, while indicating the ministry's commitment to the export ceiling set by the Organization of the Petroleum Exporting Countries (OPEC), which stands at 4 million and 330 thousand barrels per day.
Khudair stated in a statement followed by the news agency that Iraq has production capacity that exceeds the set ceiling for its exports, explaining that there is a difference between the country's production capacity and the quantities allowed for export according to OPEC agreements.
He added that the Ministry of Oil is committed to the export ceiling determined by the organization, despite daily production surpassing 5 million barrels, noting that discussions are taking place with OPEC aimed at increasing Iraq's export share, in line with the specific economic conditions and challenges it has faced over the past five decades.
The minister indicated that Iraq seeks to achieve higher production and export rates, which would help enhance financial revenues and provide the necessary resources to develop infrastructure and implement government plans and projects.
These moves come as part of Iraq's efforts to increase its oil share and maximize its financial revenues while maintaining its commitments within OPEC agreements.