Iraq walked back its threat to leave OPEC over production quotas, but the economic pressures driving the ultimatum remain firmly in place.

Iraq's oil exports collapsed over 97% due to the Iran conflict, dropping from 3.32M bpd to 96K bpd. OPEC+ approved a modest quota increase as Iraq scrambles

Iraq will be compelled to consider all options if its quota in the Organization of the Petroleum Exporting Countries (OPEC) is not significantly...