# Iraq Targets Ten Million Barrels Per Day Oil Production by 2032 Baghdad plans massive output expansion to stabilize the economy and fund national infrastructure projects. - **Source:** [The National](https://www.thenationalnews.com) - **Published:** 2026-11-09 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/dd351754-8f09-4348-b0df-a27cf34ea59e ## Ambitious Production Targets Set Iraqi Prime Minister Ali Al Zaidi announced a strategic vision to increase national oil production to seven million barrels per day by 2030. The long-term goal extends to 10 million barrels per day by 2032. This projection includes an estimated contribution of one million barrels per day from the Kurdistan region. ## Economic Impact of Conflict The ongoing Iran war has severely impacted Iraq's energy sector, causing significant export disruptions. Oil revenue, which typically constitutes 90 percent of government income, experienced a sharp decline. Exports plummeted from 3.36 million barrels per day in February to just 131,000 barrels per day in April, creating an urgent fiscal crisis. ## Negotiating OPEC Export Quotas Oil Minister Basim Mohammed Khudair is currently engaged in active dialogue with OPEC to secure higher export quotas. Iraq currently operates under a production quota of 4.431 million barrels per day. Officials argue that Iraq deserves increased production rights due to unique historical circumstances and the severe economic damage sustained recently. ## Foreign Investment Strategy Baghdad is aggressively pursuing multi-billion dollar oil and gas agreements to facilitate this production growth. Key partnerships are being finalized with major United States corporations, including Chevron, HKN Energy, and Halliburton. These investments are essential for upgrading infrastructure and restoring the production capacity lost during the recent regional conflict period. ## Diversifying Export Infrastructure To mitigate risks associated with the Strait of Hormuz, Iraq is developing alternative export routes. Plans include pipelines extending to the Mediterranean port of Baniyas in Syria and the port of Aqaba in Jordan. Additionally, the government is focusing on the Iraq-Turkey pipeline leading to Ceyhan to ensure consistent export flow. ## Recent Export Recovery Trends Following the extreme lows observed in April, Iraqi oil exports showed signs of recovery by October, reaching approximately 3.4 million barrels per day. This rebound provides a foundational level for the government's ambitious expansion plans. Monthly oil revenues, which previously hovered around $7 billion, are now a primary focus for stabilization. ## Internal Political Cooperation Prime Minister Al Zaidi discussed these energy goals with Kurdistan Region Prime Minister Masrour Barzani in Baghdad. The leaders emphasized that increasing oil output will positively reflect on national development and economic stability. This collaboration between Baghdad and the Kurdistan region is vital for achieving the integrated 10 million barrel target. ## Long-term Fiscal Implications The success of this production expansion is critical for funding Iraq's extensive government plans and infrastructure requirements. By reducing reliance on a single export route and securing foreign technical expertise, Iraq aims to insulate its economy from future regional shocks. The outcome will determine the nation's fiscal health for decades. ## Sources covering this story - https://www.thenationalnews.com/news/mena/2026/11/09/iraq-sets-ambitious-target-to-more-than-double-oil-production-by-2032/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._