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Iraq reaffirms OPEC+ ceiling while seeking a 2027 revision

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Iraq’s Oil Ministry reaffirmed on 7 November 2026 its commitment to an OPEC+ ceiling of 4.431 million barrels a day while seeking an increase for 2027, KUNA reports.

The ministry said a consultancy was assessing members’ maximum sustainable production capacity. It hopes that exercise will support a revised limit, but said any increase depends on agreement among producers and market conditions.

In a separate report, Reuters quoted the minister telling Iraqi state agency INA that production exceeded five million barrels a day. The sources do not clarify the period or scope needed to reconcile that figure with the stated ceiling.

These statements therefore establish neither independently verified quota compliance nor an already approved increase.

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