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Iraq Oil Exports Plunged to 7-Month Low in January

OIL

Iraq’s crude oil exports stood at 3.338mbpd in January, down from 3.48mbpd in December and the lowest level since June according to data from the Iraqi Oil Ministry.

  • The exports are solely from Iraq’s federal government. Exports from the Kurdistan region remain halted since end-March 2023.
  • Iraq was planning to pump less oil in January due to the country’s voluntary OPEC output cuts, setting the new baseline at 4.009mbpd for 1Q 2024.

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