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Oil price falls to lowest level since before the US-Iran war; UK firms hope Burnham will ease burden – business live

The Guardian UK Thursday 25 June 2026, 07:38 UTC By Graeme Wearden 1 min read
Key Points

Rolling coverage of the latest economic and financial newsCould Iraq be poised to follow the United Arab Emirates out of Opec?Reuters is reporting that Iraqi officials had considered leaving the Opec oil cartel, but are currently planning to remain a member and seek a higher quota under Opec rules. Iraq will be compelled to consider all available options if its OPEC quota is not significantly increased, a senior Iraqi oil ministry official told Reuters on Thursday. Iraq is enduring a...

Rolling coverage of the latest economic and financial news

Could Iraq be poised to follow the United Arab Emirates out of Opec?

Reuters is reporting that Iraqi officials had considered leaving the Opec oil cartel, but are currently planning to remain a member and seek a higher quota under Opec rules.

Iraq will be compelled to consider all available options if its OPEC quota is not significantly increased, a senior Iraqi oil ministry official told Reuters on Thursday.

Iraq is enduring a critical financial crisis on the back of the Iran war and a significant increase in its OPEC quota is a must and should be treated with utmost seriousness, the source told Reuters.

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US (LOCATION) Iran (LOCATION) UK (LOCATION) Burnham (ORG) Iraq (LOCATION) the United Arab Emirates (ORG) Opec?Reuters (ORG) Iraqi (ORG) Opec (ORG) the Iran war (EVENT)
Originally published by The Guardian UK Read original →

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