Iraq's oil exports decline by 32,000 barrels per day in May
Baghdad (IraqiNews.com) – The Washington-based Energy Information Administration (EIA) reported that, on a monthly basis, Iraq's oil exports declined by 32,000 barrels per day in May.
The volume of crude oil that Iraq exported by sea declined to 3.27 million barrels per day in May 2025 compared to 3.30 million barrels per day in April 2025.
According to government sources, Iraq's oil exports in May and June 2025 are expected to be less than 3.2 million barrels per day to meet its OPEC+ production quota.
During the first five months of 2025, Iraq's crude oil exports averaged approximately 3.33 million barrels per day, compared to 3.45 million barrels per day during the same period in 2024.
Iraq's total seaborne exports of oil decreased to 3.66 million barrels per day during May 2025, compared to 3.87 million barrels per day in May 2024.
Since April 2024, eight OPEC+ countries, including Iraq, have resumed their voluntary production cuts of 2.2 million barrels per day. The production limit was set to rise to 411,000 barrels per day in May, June, and July 2025.
According to the most recent meeting of the eight OPEC+ countries, Iraq's crude oil production is expected to reach approximately 4.12 million barrels per day.
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