Iraq may exit OPEC if oil production quota is not increased, officials warn

Iraq warns it may consider OPEC exit over quota dispute

Iraq has warned it may consider all options, including a possible exit, if its OPEC production quota is not significantly increased, according to a senior oil ministry official speaking to Reuters.

Sources say Iraqi officials have discussed leaving the Organization of the Petroleum Exporting Countries OPEC, though the current strategy remains to stay in the group while pushing for a higher production allocation.

The dispute comes as Iraq Iraq faces financial strain linked to regional instability and economic pressure. Officials argue that a higher quota is essential to support state revenues.

The broader OPEC+ OPEC+ alliance has not commented on the matter. Iraq remains a founding member of OPEC but is pressing for urgent negotiations.