Iraq's crude oil exports reached 2.96 million barrels per day in October 2026, showing a 15% increase from 2.58 million barrels per day in September 2026. This increase marks the highest level of exports since the beginning of military conflicts in the Middle East in late February 2026.
Details of the Increase in Crude Oil Exports
According to published information, Iraq has managed to increase its crude oil exports for the fifth consecutive month. However, the country's maritime crude oil exports have decreased by 14% compared to October 2025, when they reached 3.43 million barrels per day. According to Iraq's Minister of Oil, Bassim Khudair, the total crude oil exports of the country have risen to over 3.4 million barrels per day.
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Impact of Recent Crises on Oil Exports
Iraq's oil exports in April and May 2026 were severely affected by regional crises, experiencing a decline of over 90%. This decrease was particularly due to the closure of the Strait of Hormuz and political instability in the region. During this period, Iraq's exports fell to less than 3.3 million barrels per day, which had a profound negative impact on the country's economy.
While a recent upward trend has been observed, the average crude oil exports of the country from January to October 2026 reached 1.72 million barrels per day, indicating a 49% decrease compared to 3.35 million barrels per day during the same period last year. This significant decline is related to the structural and economic challenges facing Iraq, which require careful attention and planning.
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