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Iraq Might Leave OPEC If Its Production Quota Isn’t Raised

Iraq Might Leave OPEC If Its Production Quota Isn’t Raised
Bloomberg Markets Thursday 25 June 2026, 08:35 UTC By Salma El Wardany, Khalid Al Ansary 1 min read
Key Points

Commodities Iraq Might Leave OPEC If Its Production Quota Isn’t Raised - Iraq’s oil exports have been dramatically curtailed by war. - Updates with government statement in second paragraph. Iraq said it might one day consider leaving OPEC unless the group accommodates it with a higher oil production quota, just a few months after the United Arab Emirates quit the group so that it could pump more.

Commodities Iraq Might Leave OPEC If Its Production Quota Isn’t Raised - Iraq’s oil exports have been dramatically curtailed by war. - Updates with government statement in second paragraph. Iraq said it might one day consider leaving OPEC unless the group accommodates it with a higher oil production quota, just a few months after the United Arab Emirates quit the group so that it could pump more. “The ministry currently has no intention of withdrawing from OPEC, and we remain committed to operating within the organization’s framework and mechanisms,” Oil Ministry spokesman Salim Al-Rikabi said in a text message. “Of course, taking into consideration that the Ministry is moving forward with increasing its production to align with its capabilities and needs, the organization should raise Iraq’s production level. Otherwise, a decision will have to be made regarding whether to remain in or withdraw from OPEC.”
Iraq (LOCATION) OPEC (ORG) Its Production Quota (ORG) the United Arab Emirates (LOCATION) Oil Ministry (ORG) Salim Al-Rikabi (PERSON) Ministry (LOCATION)
Originally published by Bloomberg Markets Read original →

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