Shafaq News- Baghdad
Iraq's Oil Ministry denied onThursday that Baghdad is considering withdrawing from OPEC, affirming itscommitment to the organization as member states move ahead with a review ofsustainable production capacity to reassess output baselines.
The ministry stressed that neitherthe prime minister nor the government has proposed leaving the organization. Instead, it reiterated Iraq's call for production baselines that reflectmembers' sustainable production capacity.
OPEC and its non-OPEC partners havealready launched the review in coordination with an independent internationalconsulting firm, under an agreed timetable that includes Iraq. The group hasbegun gradually restoring previously curtailed production, with all voluntarycuts expected to be phased out over the coming months, a step that the ministrysaid will contribute to raising Iraq's production baseline.
The ministry emphasized thatproduction baselines and sustainable capacity are determined through OPEC's"technical and consensus-based mechanisms," adding that member statestake into account Iraq's exceptional circumstances —including decades of wars,sanctions, terrorist attacks, and damage to its oil infrastructure— to ensurethe country maintains its position as OPEC's second-largest producer whileadvancing development and rehabilitation projects across the oil sector,"the backbone of Iraq's public revenues."
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Earlier today, a statementattributed to Oil Ministry spokesperson Salim Al-Rikabi indicated that Iraqcould reconsider its OPEC membership if the organization did not raise thecountry's oil production quota.
Government sources told Shafaq Newson Wednesday that Baghdad is weighing higher oil exports beyond OPEC'sproduction ceiling and could consider leaving the organization if its requestfor a larger production quota is rejected, with any decision likely after PrimeMinister Ali Al-Zaidi's planned visit to Washington next month.
