# Oil Minister: Our production has reached 5 million barrels per day, and talks are underway with OPEC to increase exports

> Iraq’s oil minister said the country produces more than 5 million barrels per day, while the ministry remains committed to OPEC’s 4.33 million-barrel daily export ceiling. He said Iraq is in dialogue with OPEC about raising that ceiling.

- Date: 2026-11-07 · published 2026-11-07T12:13:48.156Z
- Category: trade · region Iraq · magnitude low
- Page: https://feedsoft.ai/events/85941-oil-minister-our-production-has-reached-5-million-barrels-per-day-and-talks-are
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A higher export ceiling could allow more Iraqi oil onto the market, adding supply and potentially pressuring crude prices if approved.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-10-31 | [Oil approaches 2-year highs but US export increase looms crude exports \| The National](https://feedsoft.ai/events/68150-oil-approaches-2-year-highs-but-us-export-increase-looms-crude-exports-the.md) | +5.9% | +7.1% |
| WTI | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -6.9% | +4.9% |
| WTI | 2019-05-27 | [Oil under pressure from U.S.-China trade war, but OPEC cuts provide support, ETAuto](https://feedsoft.ai/events/59237-oil-under-pressure-from-u-s-china-trade-war-but-opec-cuts-provide-support-etauto.md) | -8.5% | -1.9% |
| WTI | 2018-01-30 | [Rising US oil exports, market disruption, Brent-WTI spread \| Wood Mackenzie](https://feedsoft.ai/events/67156-rising-us-oil-exports-market-disruption-brent-wti-spread-wood-mackenzie.md) | -2.3% | -4.1% |
| WTI | 2019-08-23 | [China strikes back at U.S. with new tariffs on $75 billion in goods \| Reuters](https://feedsoft.ai/events/57443-china-strikes-back-at-u-s-with-new-tariffs-on-75-billion-in-goods-reuters.md) | +2.4% | +5.1% |
| BRENT | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -8.8% | -2.2% |
| BRENT | 2017-01-23 | [OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post](https://feedsoft.ai/events/73143-opec-s-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trump-s.md) | -0.2% | -0.2% |
| BRENT | 2025-04-04 | [Tariffs, OPEC+, and Carbon Tax Removal Impact Diesel Prices \| Breakthrough](https://feedsoft.ai/events/12525-tariffs-opec-and-carbon-tax-removal-impact-diesel-prices-breakthrough.md) | -9.8% | -13.9% |

## Sources

- ina.iq: https://ina.iq/en/economy/53606-oil-minister-our-production-has-reached-5-million-barrels-per-day-and-talks-are-underway-with-opec-to-increase-exports.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.