Iraq could become the next country after the United Arab Emirates to leave the Organization of the Petroleum Exporting Countries (OPEC). High-ranking officials from the Iraqi oil ministry stated this possibility, writes Reuters.
The main reason for Baghdad's dissatisfaction is the current oil production quota, which, according to Iraqi authorities, does not match the country's real capabilities. Currently, Iraq is allowed to produce about 4.4 million barrels of oil per day. Before the recent crisis in the Middle East, the country almost fully utilized this limit, but after supply disruptions through the Persian Gulf, production sharply declined.
Iraq's new Prime Minister, Ali al-Zeidi, stated that the country wants a review of its quota, taking into account its large oil reserves, production capacities, and population size. According to him, Iraq plans to increase production to seven million barrels per day in the coming years.
Oil sector representatives warn that if OPEC does not agree to significantly increase the quota, Baghdad will be forced to consider all possible options, including leaving the organization.
A similar situation already led to the withdrawal of the United Arab Emirates from OPEC. The Emirates also long disputed with Saudi Arabia over production limits. The country possessed significant spare capacity and could produce much more oil than its quota allowed. According to UAE authorities, this prevented them from generating additional revenue and financing important economic projects.
For Iraq, oil remains the main source of state revenue, so the issue of increasing production is of key importance for the country. If negotiations with OPEC do not yield the desired result, the organization may face another serious test of its unity and influence on the global oil market.
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Цяпер, калі грошай многа, яны пачалі ваяваць між сабой, весці проксі-войны па ўсім ісламскім свеце. І трэба ўсё больш грошай на гэта марнаваць.
Што ты не рабі, гэты "белы д'ябал" іх перайграе. Машалла.