Former Iraqi PM Adel Abdul-Mahdi Warns Against OPEC Exit

According to the International Desk of Webangah News Agency, former Iraqi Prime Minister Adel Abdul-Mahdi on Saturday urged his country to refrain from exiting the Organization of the Petroleum Exporting Countries (OPEC).

Abdul-Mahdi issued a statement on the social media platform X, stating, “If we exit OPEC, we will be the losers. We will produce more, and others will do the same, resulting in increased supply, decreased oil prices, and reduced oil revenues.”

The former Iraqi Prime Minister further elaborated that OPEC was established in Iraq to regulate the oil market and competition, ensuring the rights of both producers and consumers were respected.

He concluded his remarks by advocating for the protection of Iraq’s interests through strengthening OPEC, rather than weakening the organization.