Iraq threatens to leave OPEC if oil quota isn't raised: Report

Iraq’s threat to leave OPEC if its oil quota isn’t raised underscores growing tensions inside the cartel as members seek higher output. The country, described as OPEC’s second-largest producer, reportedly told Reuters via a senior oil ministry official that it could withdraw unless quotas are significantly increased. Iraq also denied the report, saying it does not reflect the Iraqi government’s official position, but emphasized that OPEC should raise its quota. The comments follow the UAE’s departure last month, when the United Arab Emirates said it wanted to boost production. Analysts were reportedly surprised because Iraq was not typically viewed as a likely next exit candidate. Iraq’s economy remains heavily oil-dependent, with oil revenue accounting for 53% of real GDP in 2025, and exports reportedly nearly halted amid the Iran war, prompting Baghdad to pursue new export routes such as a pipeline to Ceyhan.