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Iraq has urged OPEC to increase its production quota, as the current share of 4.378 million barrels per day is considered insufficient to meet the needs of its economy and its population of over 46 million. Although the Iraqi government has denied any intention of withdrawing from the organization, reports have suggested that Iraq is considering doing so if it does not receive a significant increase, sparking controversy over its future relations with OPEC and the impact this might have on the global oil market. Baghdad is hopeful of gradually raising its production to around 7 million barrels per day in the coming years, while continuing to call for a review of the production ceilings to align with its capacities and potential.
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