Baghdad (IraqiNews.com) – Iraq’s average oil exports in May and June 2026 were roughly 526,470 barrels per day, compared to about 329,500 barrels per day in April, amid ongoing shipping and energy disruptions in the Gulf region. The revenues generated from Iraqi oil exports saw an improvement over the last two months, supported by a relative increase in shipping traffic in the Strait of Hormuz and the activation of alternative export routes. Oil prices fluctuated, remaining high at around $100 per barrel during May before falling below that level in June.
The rising oil prices boosted Iraq’s export income in May and June 2026, when there were fears about supply constraints and increased Asian demand, notably from China and India. Iraqi oil exports have been under growing strain since the beginning of March, following the suspension of loading operations at southern ports due to the US war against Iran, which had a direct impact on marine security in the Strait of Hormuz. According to the State Organization for Marketing of Oil (SOMO), Iraq’s total oil exports in May and June 2026 were roughly 32.11 million barrels, with a monthly average of over 16 million barrels.
The country’s oil exports reached 9.88 million barrels in April and around 18.6 million barrels in March. Iraqi oil export earnings in May and June 2026 reached approximately $2.33 billion, averaging $1.16 billion per month, compared to $1.87 billion in April, $1.95 billion in March, and approximately $6.81 billion in February. Experts believe that the current price levels of oil are likely to provide Baghdad with a better financial margin to mitigate some losses incurred from the significant decline in exports, even amidst ongoing security tensions in the region.
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