In Iraq, they threatened to withdraw from OPEC if they refused to raise the quota.

Baghdad may terminate its membership in the Organization of the Petroleum Exporting Countries (OPEC) if it does not raise Iraq's oil production quota. This was reported on June 25 by the Reuters news agency, citing sources.

"Saudi Arabia and other OPEC allies should treat this issue with the utmost seriousness. Otherwise, Iraq will be forced to consider all available options," the source said.

However, he noted that Baghdad's current plan is to remain an OPEC member and seek to increase the oil quota.

The Iraqi economy found itself in a difficult situation against the background of the military actions of the United States and Israel against Iran, which led to the blocking of most of Iraq's exports in the Strait of Hormuz, the authors of the material explain.

OPEC suffers losses: The UAE has announced its withdrawal from the cartel

The future of the alliance is in doubt

On April 28, Reuters reported on the UAE's withdrawal from OPEC and OPEC+ organizations. At the same time, UAE Energy Minister Al Mazroui on April 29 named the reason for the country's withdrawal from OPEC and OPEC+.

This decision was made due to the closure of the Strait of Hormuz. According to him, the country did this because it is constrained in its influence on the world market due to the naval blockade of the strait.