Iraq Economic News And Points To Ponder Monday Evening 4-6-26
Iraq Among Top Three OPEC+ Producers Under May 2026 Quotas
2026-04-06 Shafaq News- Baghdad Iraq is set to produce 4.326 million barrels per day in May 2026, ranking third among OPEC+ producers under the alliance’s approved output quotas for the month.
Saudi Arabia is expected to lead with 10.228 million barrels per day, followed by Russia at 9.699 million barrels per day, while the UAE is set to produce 3.447 million barrels per day, Kuwait 2.612 million barrels per day, Kazakhstan 1.589 million barrels per day, Algeria 983,000 barrels per day, and Oman 821,000 barrels per day.
The eight OPEC+ countries —Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman— agreed during a virtual meeting on April 5, to implement a production increase of 206,000 barrels per day in May as part of a gradual adjustment to earlier voluntary cuts. https://www.shafaq.com/en/Economy/Iraq-among-top-three-OPEC-producers-under-May-2026-quotas
Gold Prices Rise In Baghdad, Stabilize In Erbil Markets
2026-04-Shafaq News- Baghdad/ Erbil On Monday, gold prices hovered around 1.02 million IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1,020,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1,016,000 IQD. The same gold had sold for 1,018,000 IQD on Sunday.
The selling price for 21-carat Iraqi gold stood at 990,000 IQD, with a buying price of 986,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1,020,000 and 1,030,000 IQD, while Iraqi gold sold for between 990,000 and 1,000,000 IQD.
In Erbil, 22-carat gold was sold at 1,069,000 IQD per mithqal, 21-carat gold at 1,021,000 IQD, and 18-carat gold at 875,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-rise-in-Baghdad-stabilize-in-Erbil-markets-9
Dollar Falls In Baghdad And Erbil
2026-04-06 Shafaq News- Baghdad/ Erbil The US dollar opened Monday’s trading lower in Iraq, hovering around 155,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,600 dinars per 100 dollars, down from the previous session’s 154,800 dinars.
In the Iraqi capital, exchange shops sold the dollar at 155,000 dinars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,700 dinars and buying prices at 154,600 dinars.
https://www.shafaq.com/en/Economy/Dollar-falls-in-Baghdad-and-Erbil-1
Dollar Prices Decrease In Baghdad, Steady In Erbil
2026-04-06 Shafaq News- Baghdad/ Erbil The US dollar closed Monday’s trading mixed in Iraq, hovering around 155,000 dinars per 100 dollars. According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,550 dinars per 100 dollars, down from the morning session’s 154,600 dinars.
In the Iraqi capital, exchange shops sold the dollar at 155,500 dinars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,700 dinars and buying prices at 154,600 dinars.
https://www.shafaq.com/en/Economy/Dollar-prices-decrease-in-Baghdad-inch-higher-Erbil
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Iraq Sends Third Oil Shipment Via Syria, 180 Tankers En Route
2026-04-06 Shafaq News- Damascus A third shipment of Iraqi fuel oil reached Syria’s Al-Tanf crossing on Monday, with 180 tankers heading toward the Baniyas refinery, a Syrian official told Shafaq News.
Safwan Sheikh Ahmed, director of corporate communications at the Syrian Petroleum Company, said the convoy arrived at 5:00 p.m. local time and is expected to reach Baniyas later today as part of an Iraq-Syria agreement to transport oil overland for export via Mediterranean ports to international markets.
Iraqi lawmaker Ali Shaddad earlier explained to our agency that authorities are working on alternative routes as the US-Israeli war on Iran disrupts traffic through the Strait of Hormuz and reduces output from southern fields, with contingency plans aimed at maintaining export flows despite logistical and security constraints.
https://www.shafaq.com/en/Economy/Iraq-sends-third-oil-shipment-via-Syria-180-tankers-en-route
Iraq's SOMO Urges Faster Crude Loading Schedules After Hormuz Transit Exemption
2026-04-06 Shafaq News- Baghdad Iraq's State Organization for Marketing of Oil (SOMO) has asked its customers to submit crude oil loading schedules within 24 hours after Iran exempted Iraq from transit restrictions through the Strait of Hormuz.
Iran's Khatam Al-Anbiya, the unified command of the country's military forces, announced the exemption on Saturday, citing the close ties between the two neighbors.
According to a document seen by Reuters, the April 5 request aims to ensure the continuity and stability of crude exports and allow the timely processing of shipping programs, including vessel nominations and contracted volumes in line with agreed terms.
SOMO confirmed in the document that all loading terminals, including Basra Oil Terminal and related facilities, are operating at full capacity, stressing Iraq's readiness to execute all contractual lifting programs without restrictions.
The move is intended to support Iraq's crude exports, which had reached approximately 99.8 million barrels, or around 3.3 million barrels per day, in February before dropping to around 800,000 barrels per day last month due to disruptions at the Strait of Hormuz caused by regional military tensions.
Separately, oil sources said on Sunday that shipments of Basra crude have begun moving to Kirkuk for export via the Kurdistan Region pipeline toward the Turkish port of Ceyhan, in a bid to increase export capacity and offset disruptions at traditional outlets. Exports through this route could reach around 340,000 barrels per day, according to a source at North Oil Company.https://www.shafaq.com/en/Economy/Iraq-s-SOMO-urges-faster-crude-loading-schedules-after-Hormuz-transit-exemption
Jordan Industrial Exports Hit $2.45B In Q1 2026
2026-04-06 Shafaq News- Amman Jordan’s industrial exports rose 2.9% in the first quarter of 2026, totalling 1.741 billion dinars ($2.45 billion), with Iraq remaining one of the main destinations, the Amman Chamber of Industry reported on Monday.
According to the data shared, Arab markets continued to dominate Jordan’s export landscape, accounting for 869 million dinars ($1.22B). Iraq, alongside Saudi Arabia and Egypt, ranked among the leading importers. By region, North America followed with 228 million dinars ($320M), while non-Arab Asian markets reached 387 million dinars ($544M), and the European Union stood at 129 million dinars ($181M).
Growth extended across eight industrial sectors, led by pharmaceuticals and medical supplies, which climbed 23.9%. In contrast, plastics and rubber posted the slowest increase, edging up just 0.6%.
Not all sectors, however, recorded gains. Exports from engineering, electrical, and information technology industries dropped 35.8%, while leather and garment exports declined 4.2%, reflecting uneven performance across industrial categories.https://www.shafaq.com/en/Economy/Jordan-industrial-exports-hit-2-45B-in-Q1-2026