Analysis-Iraq's push for bigger OPEC quota driven by revenue pressures, new oil investment
Key takeaways
- Analysis-Iraq's push for bigger OPEC quota driven by revenue pressures, new oil investment OPEC logo and Iraqi flag are seen in this illustration taken June 25, 2026.
- The war, which forced huge export cuts, has aggravated discord among the group's core Gulf members.
- Iraq — among OPEC's five founding members and its second-biggest producer — took a major economic hit as the oil proceeds accounting for the bulk of state revenues dried up.
Analysis-Iraq's push for bigger OPEC quota driven by revenue pressures, new oil investment OPEC logo and Iraqi flag are seen in this illustration taken June 25, 2026. REUTERS/Dado Ruvic/Illustration · Reuters By Ahmed Rasheed and Sarah El Safty Mon, June 29, 2026 at 9:14 PM GMT+7 4 min read By Ahmed Rasheed and Sarah El Safty
DUBAI, June 29 (Reuters) - An economic crisis caused by the Iran war and a fresh surge of investment by oil majors are driving Iraq's aggressive push for a higher OPEC production quota, potentially placing it on a collision course with the producer bloc.
The pressure from Baghdad adds to the challenges confronting the Organization of the Petroleum Exporting Countries, still reeling from the conflict's fallout and the shock departure of the United Arab Emirates after nearly 60 years as a member.