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Iraq to consider all options if OPEC quota is not raised, has weighed exit: Reuters

Middle East News

25-06-2026 | 04:28

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Iraq to consider all options if OPEC quota is not raised, has weighed exit: Reuters

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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.

Separate sources told Reuters Iraqi officials had considered leaving OPEC, but the current plan was to remain a ⁠member and seek a higher quota.

The prospect of Iraq considering an exit from OPEC would be a further blow to the group after the departure of the United Arab Emirates this year. Iraq is one of five founding members and the group was formed in the ‌Iraqi ⁠capital.

OPEC did not immediately respond to a request for comment.

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 Iraqi official source told Reuters.

OPEC+, is comprised of the Organization of the Petroleum Exporting ⁠Countries and allied producers including Russia.

Reuters

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