Iraq’s premier says he hopes producers will reconsider oil export quota

BAGHDAD: Iraq hopes fellow producers will reconsider its oil export quota to better reflect its production capacity, Prime Minister Mohammed Shia Al-Sudani said on Saturday, a day ahead of an OPEC+ meeting in a rare public comment by a senior Iraqi official. Iraq, the group’s largest overproducer, is under pressure from the Organization of the Petroleum Exporting Countries to cut output to compensate for having produced more than its agreed volume. It is among countries that submitted plans in April to make further oil output cuts to compensate for pumping above agreed quotas.

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