Iraq Considers OPEC Withdrawal if Oil Production Quota Not Increased

A senior official at the Iraqi Oil Ministry stated today that the country would be compelled to explore all available options if its quota within the Organization of the Petroleum Exporting Countries (OPEC) is not increased. The official explained that Iraq faces a severe financial crisis, attributed to repercussions of the conflict with Iran, thus requiring a significant boost to its share in the organization and serious consideration of this demand. Concurrently, informed sources revealed that Iraqi officials are indeed considering withdrawal from OPEC, though the current plan prioritizes remaining within the group and securing a larger output share.