Dijlah Point - Iraq's ambitions to increase its oil exports to approximately 10 million barrels per day are facing significant hurdles, primarily due to OPEC regulations and technical evaluations by foreign consulting firms. International oil reports indicated that an Iraqi delegation held talks in Saudi Arabia to discuss the production increase plan within the organization. OPEC has contracted two foreign economic consulting firms to evaluate member states' requests to boost production, with a comprehensive study expected to be presented this coming September. Baghdad aims to achieve its export target within six years, but it may face obstacles with the organization, which is obligated to distribute any potential production increases among all member states. This push comes as the Iraqi economy relies on oil revenues for 90% of its income, making it highly vulnerable to current regional geopolitical crises.
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Editor at Dijlah Point News, writing about policy.