In a statement issued on Thursday, Iraq’s Oil Ministry said the country has repeatedly called for a reassessment of production baselines to better reflect the sustainable production capacities of member states and Iraq’s unique security and economic circumstances. The ministry noted that OPEC has already begun a process to review member countries’ production capacities.

The debate comes amid reports suggesting Iraq could consider leaving OPEC if its production quota is not raised. While Iraqi officials rejected claims that a withdrawal decision has been made, Oil Ministry spokesperson Salim Al-Rikabi stated that Iraq expects a fair increase in its quota and warned that the country may ultimately need to decide whether remaining in the organization serves its interests.

“Iraq has no intention of withdrawing from OPEC and remains committed to its mechanisms,” Al-Rikabi said, while adding that the organization must address Iraq’s production concerns.

Iraq, a founding member of OPEC, relies heavily on oil revenues, which account for nearly 90 percent of government income. The recent regional conflict and disruptions to shipping through the Strait of Hormuz significantly affected exports and reduced production across the country.

Several Iraqi oil fields were also targeted by drone attacks during the conflict, causing further disruptions to operations. Prior to the outbreak of war in February, Iraq produced approximately four million barrels of oil per day and exported around 3.5 million barrels daily, most of which passed through the Strait of Hormuz.

Following a recent agreement between Washington and Tehran that eased regional tensions and reopened maritime routes, Iraqi authorities hope to restore production to pre-war levels within the next two months.

The possibility of Iraq reconsidering its OPEC membership has drawn attention because it would represent another setback for the organization following the departure of the United Arab Emirates earlier this year. Baghdad, however, emphasized that all production-related issues should continue to be addressed through OPEC’s established technical and consensus-based mechanisms.

Iraq maintains that its history of wars, sanctions and recent security challenges justifies a higher production allocation and expects member states to take those factors into account when determining future quotas.