Iraq denies plans to leave OPEC, emphasizes production quota reevaluation

BAGHDAD, June 25– The Iraqi Oil Ministry on Thursday refuted media reports that the country is considering leaving the Organization of the Petroleum Exporting Countries (OPEC).

Neither the Iraqi prime minister nor the government has raised the issue of withdrawal, the ministry said in a statement, adding that Iraq has consistently emphasized the importance of reassessing production quotas to align with the sustainable production capacities of member states, in accordance with the agreement approved by all relevant countries and the understandings regarding Iraq’s security and economic situation.