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Iraq Could Quit OPEC in Bid to Pump More Oil

OPEC’s second-largest producer, Iraq, is considering exiting the cartel if the organization rejects Baghdad’s plan to boost its oil produ…

Source OilPrice AI Summary Updated 3h 32m ago

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OPEC’s second-largest producer, Iraq, is considering exiting the cartel if the organization rejects Baghdad’s plan to boost its oil production quota in line with some of the other members, sources in the Iraqi government have told local news outlet Shafaq. Iraq proposes to boost its oil exports to compensate for the losses in production and sales it has incurred since the start of the war, according to Shafaq’s sources. The federal government is also estimating the impact of Iraq potentially exceeding its production quota in the…

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