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.
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
- DevelopingSmoke continues to rise over Baghdad after oil leak, report says
- StrongTurkey and Iraq sign interim agreement to operate oil pipeline, boost exports to 750,000 bpd
Source and signal
A single-sourced dispatch is never rated Confirmed or Strong. Its Signal strengthens only when a second, independent source corroborates it.
- Open-source intake