In alignment with the Organization of the Petroleum Exporting Countries (OPEC) production guidelines, the Iraqi Ministry of Oil announced on Friday that it has officially reduced its oil exports to meet the requirements of the global oil coalition. This adjustment reflects Iraq’s commitment to the OPEC-led cooperative production agreement, known as the Declaration of Cooperation (DoC).

The Ministry confirmed in a press release:

"In line with the Republic of Iraq’s commitment to the decisions by the OPEC and allied countries under the joint cooperation agreement, we confirm that Iraq has reduced its production and oil exports to 3.3 million barrels per day, in addition to decreasing domestic consumption. This reduction will continue in the coming months to ensure production and exports stay within agreed limits."

The ministry added that the move would help counterbalance excess production from previous months and support stability in the global oil market.

OPEC, founded in Baghdad in 1960 and headquartered in Vienna since 1965, unifies petroleum policies among member nations, aiming to secure fair and stable oil prices.

Despite the nationwide production cut, the Kurdistan Region—though a part of Iraq and subject to OPEC’s policy—manages its own oil fields and companies. Kurdish oil exports have been a point of contention between Baghdad and Erbil, especially following Iraq’s halt on Kurdish oil exports due to the OPEC quota compliance. The Kurdistan Region previously exported 450,000 barrels daily to Turkey, a significant stream impacted by the restriction.

Efforts continue toward an agreement between Baghdad and Erbil to prevent further economic disruption due to the stalled exports.