
Iraq Asks OPEC to Review Its Production Quotas
Baghdad has officially asked OPEC to recalculate its production quotas. This move could undermine the already fragile balance within the oil alliance.
Commodities include physical assets traded on global exchanges: precious metals (gold, silver), energy (Brent and WTI crude, natural gas), industrial metals (copper, aluminum, nickel) and agriculture (wheat, corn, soybean, coffee, cocoa). They're often used as a hedge against inflation and geopolitical crises, with low or negative correlation to equities.
Gold (XAU/USD) remains the historical reference: it surpassed $4,800 per ounce in 2026 amid high sovereign debt and central bank demand (BRICS + Turkey, Poland, Singapore). Oil is pulled between global economic cycles (demand) and OPEC+ decisions (supply), with two benchmarks: Brent (Europe, North Sea) and WTI (US, West Texas Intermediate), typically spreading 2-5 USD apart.
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Baghdad has officially asked OPEC to recalculate its production quotas. This move could undermine the already fragile balance within the oil alliance.

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