Iraq’s 2024 oil exports recede to 9-year low

Iraqi oil exports fell slightly in December — to 3.259 million barrels per day (bpd)

Iraqi oil exports fell slightly in December — to 3.259 million barrels per day (bpd), according to Oil Ministry data — capping an OPEC-constrained year in which the country’s oil sales hit their lowest annual average since 2015. Exports averaged 3.372 million bpd in 2024, bringing in an estimated $96.08 billion, according to an Iraq Oil Report analysis of Oil Ministry data and its pricing formulas. In 2023, countrywide exports averaged 3.466 million bpd, which was itself a steep reduction from 3.710 million bpd in 2022.