Iraq presses OPEC for higher output quota, signals membership could be reviewed

Iraq has urged OPEC to increase its oil production quota to better reflect the country's output capacity, warning that continued restrictions could eventually force Baghdad to reconsider its membership in the producer group.

According to a report by Bloomberg, Iraq's Oil Ministry said the country remains committed to OPEC and has no immediate plans to leave the organisation. However, officials indicated that Baghdad expects future production targets to align more closely with its growing capabilities and economic requirements.

Oil Ministry spokesman Salim Al-Rikabi said Iraq intends to continue expanding oil production in line with national needs and available capacity. He argued that OPEC should revise the country's quota accordingly as part of its future output framework.

If production limits are not adjusted, Iraq would ultimately have to decide whether remaining within the organisation continues to serve its interests, Al-Rikabi was quoted as saying.

The remarks come at a time when Iraq is seeking greater flexibility to increase output after the war significantly disrupted the country's oil exports, placing additional pressure on government revenues and economic planning.

The comments also add to broader questions about cohesion within OPEC following recent tensions over production policy among member states.

Those challenges intensified after the United Arab Emirates exited the producer group following a prolonged dispute with Saudi Arabia regarding production allocations and output restrictions.

Meanwhile, OPEC and its allies are conducting a review of the technical production capacity of member countries. The assessment, expected to be completed later this year, will help shape production quotas and output targets for 2027.

The outcome of that review is likely to be closely watched by Iraq, which has repeatedly argued that its current production ceiling does not adequately reflect its ability to pump additional crude.