Iraq’s oil exports have been going down for the last three months. Despite that prices continue to fluctuate and the country earned more in January than December.
In January Iraq exported an average of 3.471 million barrels a day of petroleum. That compared to $3.473 mil in December, 3.553 million in November and 3.578 million in October. This decline has been happening despite OPEC+ loosening its quotas on the country allowing for more production.
The drop in January’s sales did not affect revenue. Iraq made $6.469 billion. That was compared to $6.388 billion in December.
International oil prices are hovering around $60 per barrel. That is causing massive problems for Baghdad’s budget which was based upon $70 a barrel. The result is a growing fiscal crisis where Baghdad has not been able to pay its bills most importantly government salaries. Handing out public positions in patronage networks is the only tool the ruling parties have to maintain followers as they have failed at providing services or developing a public sector that would provide jobs and opportunities.
2025 saw a large drop in government revenue as it only earned an average $6.917 billion a month compared to $8 billion in 2024 and $8.124 billion in 2023.
Federal Oil Exports, Prices, Revenues 2021-2024
|
Month |
Avg Export (Mil) |
Earnings (Bil) |
|
2021 Avg |
3.019 |
$6.303 |
|
Jan 2022 |
3.203 |
$8.323 |
|
Feb |
3.314 |
$8.544 |
|
Mar |
3.244 |
$10.913 |
|
Apr |
3.38 |
$10.554 |
|
May |
3.3 |
$11.44 |
|
Jun |
3.373 |
$11.505 |
|
Jul |
3.303 |
$10.608 |
|
Aug |
3.286 |
$9.784 |
|
Sep |
3.292 |
$8.845 |
|
Oct |
3.382 |
$9.258 |
|
Nov |
3.329 |
$8.231 |
|
Dec |
3.332 |
$7.709 |
|
2022 Avg |
3.311 |
$9.64 |
|
Jan 2023 |
3.266 |
$7.663 |
|
Feb |
3.184 |
$7.081 |
|
Mar |
3.255 |
$7.506 |
|
Apr |
3.288 |
$7.699 |
|
May |
3.305 |
$7.325 |
|
Jun |
3.335 |
$7.115 |
|
Jul |
3.444 |
$8.294 |
|
Aug |
3.423 |
$8.998 |
|
Sep |
3.438 |
$9.422 |
|
Oct |
3.534 |
$9.594 |
|
Nov |
3.433 |
$8.482 |
|
Dec |
3.486 |
$8.311 |
|
2023 Avg |
3.365 |
$8.124 |
|
Jan 2024 |
3.339 |
$8.026 |
|
Feb |
3.434 |
$7.96 |
|
Mar |
3.423 |
$8.65 |
|
Apr |
3.413 |
$8.75 |
|
May |
3.359 |
$8.14 |
|
Jun |
3.41 |
$8.25 |
|
Jul |
3.486 |
$9.08 |
|
Aug |
3.414 |
$8.49 |
|
Sep |
3.31 |
$7.11 |
|
Oct |
3.327 |
$7.47 |
|
Nov |
3.296 |
$7.01 |
|
Dec |
3.259 |
$7.15 |
|
2024 Avg |
3.372 |
$8.00 |
|
Jan 2025 |
3.298 |
$7.47 |
|
Feb |
3.398 |
$6.7 |
|
Mar |
3.441 |
$7.717 |
|
Apr |
3.365 |
$6.738 |
|
May |
3.278 |
$6.362 |
|
Jun |
3.296 |
$6.698 |
|
Jul |
3.379 |
$7.185 |
|
Aug |
3.381 |
$7.160 |
|
Sep |
3.405 |
$6.962 |
|
Oct |
3.578 |
$7.031 |
|
Nov |
3.553 |
$6.595 |
|
Dec |
3.473 |
$6.388 |
|
2025 Avg |
3.404 |
$6.917 |
|
Jan |
3.471 |
$6.469 |
SOURCES
Al Mada, “Iraq’s deficit will not be reduced, but rather will increase pressure. An expert explains the implications of the OPEC+ decision,” 9/9/25
Van Heuvelen, Ben, “Iraq oil exports flat in January,” 1/10/26
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