Iraq Seeks 6 Million Barrel Oil Quota in OPEC+ Review

Iraq is seeking a significant increase in its oil production quota as OPEC and its allies conduct a review of members' capacities, according to people familiar with the matter.

The group's second-biggest producer wants future targets to be calculated from a baseline of 6 million barrels a day, a big upgrade from its most recent level.

This move comes as OPEC and its allies conduct a review of members' capacities aimed at determining how much they can pump next year. The quota increase would likely have significant implications for global oil markets.