Iraq Calls For Higher Oil Quotas As OPEC Tensions Grow

Iraq has renewed pressure on OPEC to significantly increase its oil production quota, while denying reports that it is preparing to leave the cartel, according to statements from Baghdad on Thursday.

The move follows reports by Reuters and Bloomberg suggesting Iraq was considering withdrawing from OPEC if its production limits were not raised.

The report said Iraq, OPEC's second-largest oil exporter, has become increasingly concerned about its heavy reliance on oil exports through the Persian Gulf following the conflict involving the United States, Israel and Iran.

To diversify export routes, Iraq approved plans in June to expand shipments through the Kurdistan-Turkey pipeline to the Mediterranean port of Ceyhan, potentially increasing capacity from 220,000 to 770,000 barrels per day.

According to the World Bank, Iraq's oil sector accounted for 53% of its real GDP in 2025. Exclusive data cited by CNBC from QuantCube Technology indicated that Iraq's overall exports have slowed dramatically since the conflict began because of disruptions linked to the Strait of Hormuz.

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