Could Iraq Be The Next OPEC Member To Exit?
Even more cracks may be forming within OPEC, even as market pundits continue to analyze Qatar’s decision two days ago to withdraw from the oil producing cartel. Michael Cohen, head of energy markets research at Barclays bank, told CNBC on Tuesday that Iraq, OPEC’s second largest producer, could be the next member to withdraw from OPEC. “I think in terms of all the OPEC countries, to me the one that stands out over the last six to eight months is Iraq,” he said. “Iraq has been out of line with its target frequently... so if restrictions to cut were too stringent, Iraq might feel it in its best interest to no longer be a ... (full story)