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Iraq is seeking a higher OPEC production and export ceiling in talks with the group, Oil Minister Bassim Khudair said. He said Iraq remains committed to its current ceiling of 4.431 million barrels per day, while arguing that higher production would support government revenues and infrastructure plans.
A higher Iraqi quota could add crude to global supply and weigh on oil prices if production and exports rise. The request alone does not change current output, so the immediate price effect is limited.
egyptoil-gas.comMohammad AbdulwakeelNov 8, 2026After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
After 56 past bearish trade events, Crude Oil (Brent) moved a median -5.6% over 5 sessions (20% higher; middle half -9.0% to -1.7%), and -4.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
