Iraq may leave OPEC if oil quota is not increased

An Iraqi Oil Ministry official said Baghdad is considering leaving OPEC if its production quota is not significantly raised. The administration highlights the financial strain from a drop in oil exports following the war with Iran.

Scraper SystemJune 25, 2026, 02:50 PM

Iraq may leave OPEC if oil quota is not increased

Iraq has signaled it could consider different scenarios, including its OPEC membership, if a notable increase in its oil production quota is not achieved. A senior official from the Iraqi Oil Ministry stated that the severe decline in oil exports following the war with Iran has created serious financial pressure on the country's economy.

The official emphasized that increasing the production quota under current conditions has become inevitable for Iraq. BAGHDAD ADMINISTRATION SEEKS A HIGHER QUOTA The ministry official stated that Iraq is demanding a significant increase in its production quota within OPEC and expressed that this request should be evaluated at the highest level by the organization.

It was noted that Baghdad needs higher production capacity to maintain economic balances and compensate for revenue losses. POSSIBILITY OF LEAVING OPEC ON THE AGENDA Sources close to the matter reported that Iraqi officials are also considering the possibility of leaving OPEC if the anticipated increase in the production quota does not materialize.

However, the sources stated that the Baghdad administration's primary goal is to remain within the organization and secure a higher production quota through negotiations.