Iraq may exit OPEC over quota issues
The Iraqi Ministry of Oil stated that the country's talk of withdrawing from OPEC is unofficial, and that Iraq emphasizes the importance of reevaluating production quotas in line with its sustainable capacities. These remarks come amid financial pressures and aspirations to raise oil production to seven million barrels per day, as Iraq seeks to increase its share to boost its economy after decades of wars and sanctions. Iraq is considered the second-largest producer within OPEC, and its hint at withdrawal threatens to escalate tensions within the organization, especially given Iraq's desire to secure a larger production share.
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