Iraq Seeks Boost in Kurdistan Oil Production Amid Global Market Volatility

Iraqi Prime Minister Ali al-Zaidi has instructed relevant authorities to increase oil production in the Kurdistan Region's oil fields. The goal is to reach a production level of 10 million barrels per day by 2030.

The current production capacity has been impacted by the ongoing US-Iran war and threats from pro-Iran groups striking energy infrastructure. Before the war began in late February, the Region produced around 250,000 barrels per day, with 50,000 allocated for domestic consumption and the remainder transferred to Iraq's State Organization for Marketing of Oil (SOMO) for export.

Zaidi emphasized that Iraq's oil production should be commensurate with its reserves, capacity, and population. The Kurdistan Regional Government has repeatedly urged Baghdad to increase the quota to 126,700 barrels, in accordance with the Region's population, which makes up 12.67 percent of Iraq's total population.