Iraq, alongside OPEC and its allies reviewing member capacity to set the level for production

Iraq, alongside OPEC and its allies reviewing the capacity of its member states to determine the amount of next year’s oil production, has asked to increase its oil production quota.

Bloomberg news agency reported on Wednesday, citing informed sources, that Baghdad wants OPEC Plus to calculate production targets based on a baseline of six million barrels per day.

OPEC Plus, at its Sunday meeting, kept its production policy for Mehr without change and announced that it must reach agreement on new quotas before making decisions about the next steps.

Texas-based Degolier & MacNaughton is carrying out the capacity review for more members, and its report is expected to be submitted in late Mehr.

Iraq’s oil exports in Mordad returned to about 2 million 340 thousand barrels per day.