Iraq threatens to leave Opec if demands for higher production quota are not met | The National

The unloading of oil from trucks arriving from Iraq at the Baniyas oil terminal in Baniyas, Syria. ReutersThe unloading of oil from trucks arriving from Iraq at the Baniyas oil terminal in Baniyas, Syria. ReutersOpec’s second-largest producer has repeatedly pushed for a higher quota

Iraq has threatened to leave Opec if the organisation does not increase its production quota to match the country's output capacity.

Iraq is Opec's second-largest producer and has repeatedly argued its post-war reconstruction needs justify a higher quota.

No timeline has been given for a potential decision on whether the country will remain within or exit the organisation.

The UAE's departure from Opec on May 1 set a precedent, after it cited a mismatch between its rising capacity and permitted quotas.