Iraq may leave OPEC if the cartel rejects its demand to increase oil output quotas to offset war-related losses.
Iraq, OPEC’s second-largest oil producer, is considering withdrawing from the cartel if its request for a higher production quota is denied. The move aims to compensate for losses incurred since the onset of conflict, according to government sources.
Baghdad seeks parity with other OPEC members in output levels, arguing that its current quota restricts revenue recovery. The government is also assessing the consequences of exceeding its existing limit without approval.
An exit could disrupt OPEC’s supply controls and influence global oil prices, though no immediate market reaction has been reported.