Iraq in talks with OPEC to increase oil export quota

Iraq is negotiating with the Organization of the Petroleum Exporting Countries (OPEC) to raise the country's oil export quota, Iraqi Oil Minister Basem Mohammed Khudair said, according to Report, citing Alsaa.

He said Iraq produces more than 5 million barrels of oil per day, while the ministry is complying with the OPEC-imposed export limit of 4.33 million barrels per day.

Khudair noted that Baghdad was taking into account the special circumstances and challenges Iraq had faced over the past five decades in the negotiations. In the minister's view, an increase in the quota would generate additional revenue to develop infrastructure and implement government plans.