Iraq signals possible exit from OPEC over production quota dispute

According to statements from Iraq’s Oil Ministry, Baghdad remains committed to OPEC and continues to support the organization’s framework and policies. However, Iraqi officials have

BAGHDAD: Iraq has warned that it could reconsider its membership in OPEC if the oil-producing alliance does not increase the country’s production quota to reflect its growing output capacity.

According to statements from Iraq’s Oil Ministry, Baghdad remains committed to OPEC and continues to support the organization’s framework and policies. However, Iraqi officials have emphasized that the country is pursuing plans to expand oil production in line with its economic needs and available resources.

Oil Ministry spokesman Salim Al-Rikabi said Iraq expects its production quota to be adjusted to match its actual capabilities. He noted that if the current limits remain unchanged, the government may be forced to evaluate whether continuing its membership serves the country’s interests.

The remarks come at a time when Iraq is seeking greater flexibility in oil production amid economic pressures and changing market conditions. The issue has added to ongoing debates within OPEC over output allocations among member states.

Meanwhile, OPEC and its allied producers are conducting a review of the technical production capacities of member countries. The assessment, expected to be completed later this year, will help shape production targets for 2027 and could influence future quota decisions across the group.