Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis.

BAGHDAD, June 25 (Reuters) - Iraq will be compelled to consider all available options if its OPEC quota is not significantly increased, a senior Iraqi oil ministry official told…

Baghdad is signaling a potential departure from OPEC if its oil production quota isn't substantially raised, a move that would further destabilize the cartel. While Iraq's current…