Pakistan, June 26 -- Iraq has warned that it could leave OPEC after its proposal to increase oil production was rejected. The Iraq threatens to leave OPEC development has raised concerns in global energy markets, as Iraq is one of the world's largest oil-producing countries and plays a key role in the organization.

Baghdad had proposed increasing its oil production and exports to help recover from the economic losses caused by the war. However, after OPEC reportedly rejected the proposal, Iraqi officials signaled that they may reconsider the country's membership in the oil-producing alliance.

According to the Iraqi News , citing sources, no final decision has been made yet. The report said that any move to increase oil production or wit...