Breaking: Iraq Targets 10 Million Barrels a Day by 2031 to Reshape National Economy
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The Arab Post
- . October 6, 2026
- . Update: October 6, 2026 7:31 pm
Iraqi prime minister Ali Falih Al Zaidi announced on Monday that the country’s oil production should reach 10 million barrels per day in 2031. Iraq oil strategy, The goal of oil production in 2031 means that Baghdad would attract foreign investments and develop the energy sector.
A Massive Leap in Hydrocarbon Capacity
Currently, Iraq produces 4.5 million barrels per day, which means that the country has to increase production twofold to reach its goal. Al Zaidi indicated that this goal can be achieved only if the country welcomes globally recognized partnerships. According to Qatar News Agency, Iraq has already started talking to the major American, French, and British companies to facilitate incoming investments from abroad.
Overcoming Production and Export Hurdles
This ambitious goal is created in a situation when the Iraqi government has to deal with the OPEC+ quotas and regional limitations on exports. As reported by Kurdistan24 news agency, Iraqi prime minister mentioned that establishing a stronger economic identity based on the program approach is an important part of this strategy.
What the New Oil Goal Means for Baghdad – Iraq oil strategy
When Iraq aims to achieve the goal of 10 million barrels a day, the country is actually investing in its future finances. The country is establishing a Future Generations Fund, which will receive an initial deposit of 1.5 trillion dinars with the aim of diversifying public revenue sources. The article in Channel8 states that the shift from international isolation to active international cooperation literally changes Iraq’s economic outlook for the next decade.
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