A senior Iraqi Oil Ministry official told Reuters that Baghdad would be forced to consider all options if OPEC does not significantly raise Iraq's production quota. Additional sources said a withdrawal has been discussed, though for now Iraq will stay and push for a higher quota, following a similar move by the UAE.
Iraq has joined the ranks of OPEC members publicly pressing for reform, warning it may leave the cartel if demands for a higher production quota are not met. A senior official in the Iraqi Oil Ministry told Reuters that Baghdad would need to "consider all options available to it" if its output ceiling under the OPEC framework is not "substantially increased." Other sources told the agency that the possibility of quitting the organization had already been reviewed internally, but for now Iraq has decided to remain and negotiate for a bigger share.
The development comes hours after The Zioneer reported that the UAE is also weighing an exit from OPEC over the same quota issue. That report, citing a senior Emirati source, noted that Abu Dhabi views the current quota allocation as failing to reflect its expanded production capacity. Iraq's public stance — aired via Reuters and covered by Israeli media channel N12 — escalates the pressure on OPEC leadership ahead of the next scheduled meeting.
Background context from The Zioneer's archive notes that Iran's oil production dropped 19% last month, and the Strait of Hormuz remains a chokepoint for exports. While Iraq and the UAE are not in the same position as Iran regarding sanctions or maritime access, the two Persian Gulf producers share frustration with a quota system that they believe stifles their economic potential. The timeline and potential impact on global supply remain unclear, as both countries continue to signal dissatisfaction through official channels.
3 developments
- DevelopingIran oil production down 19% in past month, OPEC data shows
- StrongIraq says oil fields ready to resume full exports, pending Hormuz passage
- StrongAmerica warns citizens to leave Iraq immediately as analysts predict multi-day campaign
- DevelopingIraq reopens airspace after Iran announces ceasefire
Source and signal
- Internal intake