Iraqi authorities are weighing a withdrawal from OPEC if the organization rejects Baghdad's proposal to raise its oil production quota, according to Shafaq News, citing Iraqi government sources.
The Iraqi government is said to be preparing for a potential exit from OPEC if the cartel does not approve Baghdad's demand for a larger production quota, a move that could reshape the group's internal dynamics as it navigates post-blockade market normalization. Shafaq News reports that Iraqi officials feel the current quota does not reflect the country's capacity, particularly as oil fields are ready to resume full exports pending safe passage through the Strait of Hormuz — a topic of a prior Zioneer bulletin. Iraq's threat comes as the broader Middle East oil landscape shifts, with OPEC data earlier showing a sharp drop in Iranian output and a deal between Tehran and Washington that revived Iranian oil exports. No official announcement has been made in Baghdad.
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- Internal intake