Iraqi PM Announces Target to Double Oil Output to 10 Million Barrels Within Six Years

Iraqi Prime Minister Ali al-Zaidi said on Friday, 30 Mordad 1405 (August 21, 2026), that Baghdad is targeting oil output of 8 to 10 million barrels per day within six years, more than double the roughly 4 million barrels per day the country produced before the Iran war. According to Oilprice.com, Iraq dispatched its oil and finance ministers to Saudi Arabia the same day to press its case for a higher OPEC+ production quota.

OPEC+ has hired consultancy DeGolyer and MacNaughton to independently assess the maximum sustainable production capacity of most members, including Iraq, with findings due by the end of September, kicking off negotiations over 2027 production baselines. Iraq, whose exports through the Strait of Hormuz remain capped near 2 million barrels per day amid the blockade, would also need to expand alternative export routes to hit the new target, including the Iraq-Turkey pipeline to Ceyhan, which is currently moving only about 170,000 barrels per day.