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Thursday, October 30, 2025

Dollar Prices Rise in Baghdad and Erbil Markets

The US dollar exchange rate in Iraq climbed higher on Monday as trading opened in Baghdad and Erbil. The increase reflects ongoing pressure in local currency...
HomeEconomyIraq Oil Exports to the US Decline in 2024, Still Key to...

Iraq Oil Exports to the US Decline in 2024, Still Key to Global Energy Market

Iraq’s crude oil and petroleum product exports to the United States totaled over 95 million barrels in 2024, marking a decrease from 115 million barrels in the previous year, according to the US Energy Information Administration (EIA).

Data from the EIA highlights significant fluctuations in monthly exports. April saw the highest volume, with Iraq exporting 10.5 million barrels, while February recorded the lowest at 4.68 million barrels. Despite these variations, Iraqi oil shipments to the US have shown a steady upward trend in recent years, with some months reaching record highs.

This sustained export level underscores Iraq’s growing oil production capacity and the rising global demand for energy. The trading relationship between Iraq and the US plays a crucial role in ensuring energy stability worldwide, benefiting both Iraq’s economy and the US energy market.