Iraq Denies OPEC Exit Threat Hours After Quota Dispute Erupted on June 25
Updated
Updated · Bloomberg · Jun 25
Iraq Denies OPEC Exit Threat Hours After Quota Dispute Erupted on June 25
3 articles · Updated · Bloomberg · Jun 25
Summary
Iraq’s Oil Ministry said reports that Baghdad is considering leaving OPEC do not reflect the government’s official position, reversing suggestions made only hours earlier.
The ministry said neither the prime minister nor the government has proposed withdrawing from OPEC, directly rebutting speculation triggered by comments tied to output limits.
Earlier on June 25, a ministry spokesman had said Iraq could eventually consider leaving if OPEC did not raise its production quota to match the country’s capacity.
The quick walk-back underscores tension over Iraq’s output ceiling while signaling Baghdad is still publicly committed to staying inside the producer group.