OPEC+ is pulling the plug on production hikes after September, wrapping up their 2023 cuts — but friction’s brewing, especially in Iraq, where output’s tanking and members are threatening to bolt if quotas don’t expand. With global supply tight, Strait of Hormuz disruptions, and forecasts pushing oil to $120/barrel, Chevron and ConocoPhillips could see major expansion opportunities if Iraq exits the cartel — setting the stage for a seismic shift in global energy markets.
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