Iraq threatens to leave OPEC if oil quota isn’t raised: Report
AI Summary
Iraq, the second-largest producer in OPEC, is reportedly pushing hard for a significant increase in its oil quota, threatening to leave the cartel if its demands aren't met. This comes on the heels of the United Arab Emirates exiting OPEC to boost its own oil output. Iraq's economy, already in turmoil due to prolonged crises, is seeking a way to enhance revenue through higher oil production. This move could reshape OPEC's dynamics and impact global oil prices, showing the cartel's vulnerability to internal dissent.
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