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Withdrawal from OPEC.. Iraq Clarifies

June 25, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
Withdrawal from OPEC.. Iraq Clarifies

The Iraqi Ministry of Oil denied reports regarding Baghdad's threat to withdraw from the Organization of the Petroleum Exporting Countries (OPEC), confirming that this proposal 'does not reflect the official position of the Iraqi government.' It also pointed out the importance of reassessing production ceilings in line with the sustainable production capacities of member countries, taking into account the specific security and economic conditions of Iraq. The ministry stated in a statement that Iraq's demands regarding its production share are addressed within the technical and consensus mechanisms adopted within OPEC and the OPEC+ alliance, noting that member countries have already launched a process to reassess the maximum sustainable production capacity in coordination with an international consulting firm...

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