Iraq warns it may consider OPEC exit if quota not raised

Published 25 Jun, 2026 12:59pm 1 min read
A drone view shows the Rumaila oil field in Basra, Iraq. -- Reuters
A drone view shows the Rumaila oil field in Basra, Iraq. -- Reuters

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 Organisation of the Petroleum Exporting ⁠Countries ​and allied producers, including ​Russia.

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