There were 10 million barrels of crude oil exported as Iraq struggles with disruption to shipping through the Strait of Hormuz
Iraq exported 10 million barrels of crude in April, an 89% drop compared to the 93 million barrels that were exported the month before the Iran conflict, according to the country’s new Oil Minister, Basim Mohammed Khudair.
Oil exports generated just over $1bn in April, down from $6bn in February, according to a separate statement from the ministry.
The decline in export volumes and revenues is due to the disruption to shipping through the Strait of Hormuz in the wake of the US and Israel’s war with Iran, which started on 28 February.
The country is exporting crude by sea through the Strait of Hormuz, as well as from Kirkuk through the Iraq-Turkiye Pipeline (ITP).
Iraq has plans to increase flows through the ITP to 500,000 barrels a day (b/d), according to Khudair.
The minister said an increase in crude output from the north of the country depends on the return of global oil companies to the Kurdistan region.
“The government is treating the energy file in the Kurdistan region as a priority,” he said.
Many international companies in the Iraqi Kurdistan region suspended their operations in the wake of the US and Isreal attacking Iran on 28 February.
Khudair said Iraq is currently producing a total of 1.4 million b/d of crude.
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Global energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.
Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
> REGIONAL LNG: War undermines business case for Middle East LNG > CAPITAL MARKETS: Damage avoidance frames debt issuance > MARKET FOCUS: Conflict tests UAE diversification |
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