Iraq has stated that it will leave the Organization of the Petroleum Exporting Countries (OPEC) if its oil production quota is not increased, following the United Arab Emirates (UAE).
Oxu.Az reports that this information was published by Reuters.
It was reported that the Iraqi Oil Ministry has concluded that Baghdad is not yet refusing to participate in the organization, but could take this step if OPEC does not make concessions.
It is noted that if its quota in OPEC is not significantly increased, Iraq will be forced to consider all available options.
Recall that last week the UAE announced its decision to leave OPEC and OPEC+ from May 1. The country's leadership assured that it would act responsibly and gradually increase oil production volumes in a measured manner.
According to experts, Abu Dhabi refused to comply with the adopted quotas and wanted to declare a "price war" by filling the market with cheap raw materials.
