Iraq's Oil Ministry confirmed no plans to leave OPEC, but Baghdad is pushing hard for a higher production quota amid the UAE's recent exit from the cartel.

UAE, one of the oil market’s heavyweight players, stepped out of OPEC and questions are rising over what the move could mean for the group’s energy production.

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

Opec’s second-largest producer has repeatedly pushed for a higher quota