Iraq refutes government plans to exit OPEC

The Iraqi Ministry of Oil has confirmed that Iraq has not expressed any intention to withdraw from OPEC. The ministry clarified that the government's stance is focused on reassessing production quotas in line with its sustainable production capacity. Iraq remains committed to the organization’s decisions to maintain balance in the oil market. It also indicated that restoring oil production levels to pre-war levels requires time and costs, and that Iraq is striving to strengthen its position as the second-largest producer within the organization, continuing cooperation with OPEC within the framework of agreed-upon policies.

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