Iraq has aligned its oil production with the OPEC+ quota, capping it at 4 mln barrels/day. Current exports are approximately 3.4 ml barrels/day. Efforts are underway to resume oil production and exports from Kurdistan through Turkey’s Ceyhan port, halted since March due to a revenue dispute. Separately, Iraq’s annual inflation rate rose to 4.4% in December, mainly driven by a rise in food prices (4.4% YoY).