Iraq warned it may withdraw from OPEC if the group fails to raise its oil production quota, a move that could destabilize the cartel months after the UAE’s exit. While Baghdad currently has “no intention of withdrawing,” Oil Ministry spokesman Salim Al-Rikabi stated a decision to leave would follow if OPEC+ refuses to align quotas with Iraq’s capabilities. OPEC’s authority over global oil markets has already eroded by U.S. shale growth, Iran tensions, and Abu Dhabi’s departure, leaving members scrambling to balance supply and demand. Saudi Arabia, OPEC’s de facto leader, has historically pressured allies to curb output, but its stance has softened as it restarts exports from Gulf facilities. Iraq’s defiance—rooted in decades of sanctions and conflict—risks triggering a price war and further fracturing the alliance. OPEC+ members are now negotiating 2024 output targets, with Iraq leveraging its founding role in the 1960-established cartel to demand higher production limits.