Iraq denies withdrawal from OPEC, ministry cites quota review

The Iraqi Oil Ministry has denied reports that Baghdad intends to leave OPEC, affirming that its request for increased production quotas is consistent with its longstanding policy within the organization. The statement, carried by TASS, comes in response to media speculation about a possible withdrawal.

"Reports about Iraq's threat to end its membership in OPEC do not reflect the official position of the Iraqi government," the ministry said, according to TASS. The ministry added that Baghdad "constantly emphasizes the importance of revising production limits in accordance with the sustainable production capacities of member states."

According to the ministry, OPEC and its allies have already responded to this push by launching a review of member states' maximum sustainable production capacities. This review is reportedly being conducted "in coordination with an independent international consulting firm and with the active participation of Iraq."

The ministry also said there is "a high level of understanding of the special situation in Iraq" among OPEC members, noting that "the country's oil and auxiliary infrastructure have been subjected to terrorist attacks, and this must be taken into account to ensure oil production in Iraq at a fair level."

The denial follows a report by Shafaq News, cited by TASS, which claimed that Iraqi authorities were considering withdrawing from OPEC if the group rejected Baghdad's proposal to raise its production quota. According to that report, the idea was part of a broader plan to boost oil exports and offset losses incurred due to the recent conflict between the US and Iran. Shafaq News also suggested that any decision on production or possible withdrawal would likely be made after Iraqi Prime Minister Ali al-Zaidi's scheduled visit to Washington in mid-July.

Iraq is the second-largest oil producer in OPEC, according to Shafaq News. Oil sales account for roughly 90% of government revenue, and most of Iraq's crude is exported by sea, with about 95% passing through the Strait of Hormuz. That strait was closed during the war waged by the US and Israel against Iran, the agency reported.

The UAE withdrew from OPEC and OPEC+ — a group comprising 11 nations, including Russia — on May 1, 2026.

Perspectives

Iraqi Oil Ministry

Official Iraqi position denies any intention to leave OPEC, framing the quota request as part of an ongoing policy and highlighting the country's special circumstances, including damage to infrastructure from terrorist attacks.

Shafaq News (via unnamed sources)

Reported that Iraqi authorities are considering withdrawal from OPEC if quota demands are rejected, linking the idea to plans to increase exports and offset losses from the US-Iran conflict. The report notes a possible decision after the prime minister's visit to Washington.