Iraq looks beyond Asia for oil sales as it seeks to expand its global market reach. Although Asia remains the main buyer, Baghdad now explores other destinations for its crude. This shift shows Iraq’s efforts to strengthen its energy trade and cut costs.
Currently, nearly three-quarters of Iraqi oil exports go to Asia. Most shipments leave Basra and head to China and India. Freight to those countries costs less and takes less time than routes to other regions. South Korea also imports a significant share, keeping Asia as the top market.
In comparison, Europe receives only about one-fifth of Iraq’s oil exports. Shipping to European markets costs more because tankers must cross the Red Sea and the Suez Canal. This adds more than ten dollars per barrel in transport charges compared with Asian routes. As a result, Iraq faces higher expenses when supplying Europe.
Meanwhile, the United States buys roughly seven percent of Iraq’s oil exports. Smaller markets, such as Tunisia and South Africa, account for another five percent. Although limited in size, these destinations show Iraq’s reach beyond Asia. Still, the key challenge remains cost and logistics, especially in comparison with the Asian market.
To reduce pressure on southern terminals and improve efficiency, Iraq is studying several options. One proposal involves repairing the Kirkuk–Baniyas pipeline that crosses Syria. Another idea is linking to the Tripoli terminal in Lebanon. In addition, Baghdad considers reviving the Basra–Aqaba line, a long-discussed project that would give Iraq new export routes.
Moreover, officials are evaluating upgrades to offshore loading facilities in Basra. Such improvements could speed up shipments and reduce bottlenecks at the main southern ports. By doing so, Iraq hopes to handle growing demand and secure access to more diverse buyers.
In the long term, Iraq looks beyond Asia for oil sales to protect its economy from overreliance on a single region. Expanding its markets would give Baghdad more stability and bargaining power. With new pipelines and terminal projects, Iraq could reach Europe, Africa, and even more American buyers.
Therefore, while Asia continues to dominate Iraqi exports, the government clearly wants wider opportunities. By investing in new routes and reducing costs, Iraq looks beyond Asia for oil sales and prepares for future challenges in global energy trade.