Iraqi officials considered leaving OPEC if quota not raised: Sources
A drone view shows oil trucks arriving from Iraq on their way to the Baniyas oil terminal, Syria, May 14, 2026. (Reuters Photo)


Iraq will be ​compelled to consider all options if ⁠its quota in the Organization of the Petroleum Exporting Countries (OPEC) is ​not significantly increased, ​a senior ⁠Iraqi oil ministry official told Reuters on Thursday.

Separate sources ​told Reuters ​Iraqi officials ⁠had considered leaving OPEC, but the current plan was to remain a member and seek a higher quota.

The prospect of Iraq considering an exit from OPEC would be a further blow to the group after the ⁠departure ⁠of the United Arab Emirates (UAE) earlier this year. Iraq is one of five founding members, and the group was formed in the Iraqi capital.

OPEC did not immediately respond to a request ⁠for comment.

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 ⁠Iraqi official source told ‌Reuters.

OPEC+ is comprised of the Organization ​of the Petroleum Exporting ⁠Countries and allied producers⁠, including Russia.