In Figures.. Iraqi Oil Exports Gradually Recover Toward Normal Levels

Economic expert Haider Al-Sheikh said Iraqi oil exports are gradually recovering after experiencing a significant decline earlier this month.

Al-Sheikh said exports have increased from around 2 million barrels per day at the beginning of the month to more than 2.5 million barrels per day currently. He expects exports to reach approximately 3 million barrels per day next month, before returning to their normal level of around 3.5 million barrels per day by the end of the month.

He noted that the government continues to face financial challenges in securing sufficient Iraqi dinar liquidity to pay public-sector salaries, while most of the available liquidity is currently in U.S. dollars. The Central Bank of Iraq is working to provide dinar liquidity through foreign-currency buying and selling mechanisms.

Iraq’s oil exports had previously declined sharply following the closure of the Strait of Hormuz amid escalating military developments in the region.