IEA: Iraq raises oil output by 540,000 bpd to 4.6 million bpd, highest since Sept 2019

Iraq's jump to its highest output in over five years lands awkwardly against OPEC's supply-management framework, since the group's second-largest producer adding volume this size tests the cohesion of collective restraint. The move matters most for the wider OPEC+ compliance picture, where a single member's significant increase can erode the discipline underpinning group policy. Whether Iraq sustains this level or it proves a one-off reading is the open question, and the next monthly figures will show if other members follow.