Iraq Walks Back Threat on Leaving OPEC Over Output Limits

Iraq has retracted its threat to leave OPEC over output limits. The nation's oil ministry clarified that it is not considering an exit, reversing a statement made only hours prior that suggested leaving was an eventual possibility. This tension highlights the fragility of global oil alliances and underscores potential volatility within energy markets. The sudden reversal follows a brief period of uncertainty regarding Iraq's commitment to the organization's production quotas and its ongoing membership status.