Iraq urges OPEC to raise oil output quota citing war damage and Hormuz blockade

Iraq has urged OPEC to raise its oil production quota, saying years of war and the recent Middle East conflict have slashed its output and strained a budget that depends on oil for about 90 percent of revenue. The oil ministry said it has long pressed for a reassessment of production baselines to match Iraq’s current capacity and its unique security and economic situation, and that OPEC has launched a review of members’ capacities. Spokesman Salim al‑Rikabi told AFP Iraq has no intention of leaving the cartel, but warned that if its quota is not raised a decision may have to be made on staying or exiting. He added that Iraq is already raising output in line with its capacity and hopes to return to the pre‑war level of about four million barrels per day within two months after the recent US‑Iran deal to end fighting. The ministry stressed that any disputes over baselines or sustainable capacity are handled through OPEC’s technical and consensus‑based mechanisms, noting a high level of understanding among members given decades of war, sanctions and drone strikes on oil fields. Iraq’s output fell from roughly 4 million barrels per day before the February 28 war to lower levels, while Iran’s blockade of the Strait of Hormuz choked shipments and shook world energy markets.

SOURCE: https://www.channelstv.com/2026/06/25/iraq-urges-opec-to-raise-its-oil-production-quota/