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Iraq to Seek Higher OPEC Quota, Reaffirms Commitment to Stay in Group
A senior Iraqi oil ministry official said Iraq will consider every available option unless its OPEC production quota rises substantially. Separate sources said officials had examined an exit but intend to stay in the group and seek a higher allocation. The statement follows the United Arab Emirates departure from OPEC earlier in 2026.
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A senior Iraqi oil ministry official said on Thursday that Iraq will consider all available options if its OPEC quota is not increased. Separate sources told Reuters that Iraqi officials had considered leaving the organization but that the current plan is to remain a member and seek a higher quota.
Iraq is enduring a critical financial crisis on the back of the Iran war, and a significant increase in its OPEC quota is a must and should be treated with utmost seriousness, the official said.
The prospect of Iraq weighing an exit would mark a further blow to the group after the United Arab Emirates departed OPEC this year. Iraq is one of five founding members, and the organization was formed in the Iraqi capital. OPEC did not immediately respond to a request for comment.
OPEC+ comprises the Organization of the Petroleum Exporting Countries and allied producers including Russia.
Transparency
How sources framed this
Founding-member leverage playPotential OPEC destabilizer
Leverage playDestabilizer
CorroborationModerate · 3 sources
