Iraq Targets 10 Million Barrels Per Day Oil Output and Diversifies Export Routes Away from Strait of Hormuz

Iraqi Prime Minister Ali al-Zaidi said Friday the government aims to raise oil production to between 8 and 10 million barrels per day within six years, up from roughly 4 million bpd before the Iran-Iraq war 1234. Al-Zaidi sent a delegation led by the oil and finance ministers to Saudi Arabia the same day to press for a higher OPEC+ quota, ahead of a Texas-based DeGolyer and MacNaughton capacity assessment due to OPEC by late September that will inform new 2027 baseline talks 14. To reduce dependence on the Strait of Hormuz, Baghdad is expanding exports via Turkey's Ceyhan pipeline, currently carrying about 170,000 bpd, and working to resume shipments through Syria's Baniyas and Jordan's Aqaba, with a planned Baniyas pipeline estimated at four years and at least $15 billion, according to Reuters sourcing 14. Oil Minister Basim al-Abadi put July exports at about 49 million barrels, with shipments averaging roughly 2 million bpd since early August, the highest level since the war began, while Strait of Hormuz traffic remains well below pre-war levels despite April and June US-Iran ceasefire agreements 234.