After UAE exit, Iraq piles pressure on OPEC over quota dispute

TL;DR

Iraq Seeks Higher Oil Allowance as OPEC Membership Rankles Iraq Walks Back Threat on Leaving OPEC Over Output Limits Iraq wants OPEC to significantly increase the country's oil supply quota, Baghdad said on Thursday, following reports it would consider quitting the cartel over the dispute. As the second-largest oil exporter in the group, Iraq holds significant influence over OPEC, which saw its third-largest producer, the United Arab Emirates, exit in April. It comes after Reuters reported Iraq was weighing leaving the cartel and Bloomberg quoted an Iraqi old ministry spokesperson warning that a "decision will have to be made regarding whether to remain in or withdraw" if oil quotas are not lifted.