According to CoinMeta, Iraqi Oil Minister Basim Mohammed stated on Saturday to the Iraqi National News Agency that the country's daily crude oil production has now exceeded 5 million barrels. With the economic impact of the war in Iran and increased investment from international oil giants, Iraq is seeking to increase its production quota within the Organization of Petroleum Exporting Countries (OPEC). The war has had a particularly severe impact on Iraq, forcing the country to significantly reduce its oil exports and leading to a sharp decline in government oil revenues. Last year, this source of revenue accounted for 88% of Iraq's total government income, while in Saudi Arabia, this proportion was around 55%.