Iraq's Oil Exports Plummet Amid Conflict

Iraq's oil exports have significantly declined since the conflict began, with the country currently exporting only 1.75 million barrels per day (bpd) compared to its pre-war level of 3.4 million bpd.

Oil Minister Basim Mohammed Khudair Al-Abadi stated that Iraq needs to find long-term solutions to diversify its oil export routes, as the current infrastructure cannot handle the volumes shipped before the war.

The minister announced plans to gradually increase crude exports through Türkiye's Ceyhan port to 750,000 bpd from fields in Kirkuk and the Kurdistan region, with a new pipeline being built to carry crude from Basra to Iraq's far north with a capacity of 2 million bpd at an estimated cost of $15 billion.