Iraq Economic News And Points To Ponder Sunday Afternoon 4-25-26
EIA: Iraq’s Oil Exports To US Fall Over The Week
2026-04-26 Shafaq News- Baghdad/ Washington Iraq’s crude oil exports to the United States dropped 11,000 barrels per day (bpd) last week, US Energy Information Administration (EIA) data showed on Sunday.
Iraqi shipments averaged 109,000 bpd last week, 9.17% less than the previous week’s average of 120,000 bpd. Total US crude imports from eight major suppliers fell 947,000 bpd from 3.7 million bpd the previous week.
Canada remained the top supplier at 3.519 million bpd, followed by Saudi Arabia with 515,000 bpd, and Venezuela with 499,000 bpd, and Mexico with 248,000 bpd.
Imports also included Brazil at 240,000 bpd, Colombia at 138,000 bpd, and Nigeria at 136,000 bpd. No oil was imported from Libya and Ecuador this week. https://www.shafaq.com/en/Economy/EIA-Iraq-s-oil-exports-to-US-fall-over-the-week
Iraq Produces 302 Million Bpd In Q1 2026
2026-04-26 Shafaq News- Baghdad Iraq produced about 302 million barrels of oil in the first quarter of 2026, the Eco Iraq Observatory said on Sunday, urging authorities to diversify export routes beyond reliance on Gulf shipping.
In a statement, the observatory said output reached around 4.157 million barrels per day in January and rose to 4.188 million barrels per day in February, before dropping sharply in March to about 1.625 million barrels per day.
It warned that reliance on a single export corridor exposes Iraq to geopolitical risks and proposed reviving the New Levant route as an alternative to expand outlets, boost flexibility during crises, and ensure steady supply to global markets, especially during regional tensions. https://www.shafaq.com/en/Economy/Iraq-produces-302-million-bpd-in-Q1-2026
Iraq Pipeline To Saudi Arabia Faces Major Hurdles
2026-04-26 Shafaq News- Baghdad Iraq is unlikely to resume oil exports through the Saudi pipeline to the Red Sea port of Yanbu in the near term due to “major obstacles,” a source in the country's Oil Ministry told Shafaq News on Sunday.
Saudi Arabia’s insistence on retaining the right to use the segment of the pipeline within its territory to transport its own oil remains a key hurdle, while restarting the Iraq-Saudi pipeline would also require reviving the bilateral agreement governing its operation.
The pipeline, which stretches about 1,568 kilometers from Zubair in southern Iraq to Yanbu on the Red Sea, halted operations in 1990 after Iraq’s invasion of Kuwait, and Saudi Arabia assumed control of the line in 2001. It has been largely neglected for more than three decades and would require extensive rehabilitation, including replacing significant sections and financial allocations if an agreement is reached.
For now, Iraq continues to rely on alternative export routes, including overland transport via Jordan and Syria, as it seeks more stable solutions for oil exports. The country is also exploring options such as the Turkish Ceyhan pipeline, the Baniyas route, and longer-term plans including storage facilities outside the Gulf and a proposed pipeline to Oman’s Duqm port.
Oil output from Iraq fell from 4.3 million to 1.3 million barrels per day amid disruptions in the Strait of Hormuz, cutting exports to below 800,000 barrels per day and causing losses of about $128 million daily. Despite this, officials say the impact remains contained, supported by government subsidies and foreign reserves of around $100 billion.
Read more: Iraq’s oil bottleneck: Abundance trapped by dependency
https://www.shafaq.com/en/Economy/Iraq-pipeline-to-Saudi-Arabia-faces-major-hurdles
Dollar Rises In Baghdad And Erbil
2026-04-26 Shafaq News- Baghdad/ Erbil The US dollar opened Sunday’s trading higher in Iraq, hovering around 156,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 155,500 dinars per 100 dollars, up from the previous session’s 155,250 dinars.
In the Iraqi capital, exchange shops sold the dollar at 156,000 dinars and bought it at 155,000 dinars, while in Erbil, selling prices stood at 155,250 dinars and buying prices at 155,150 dinars.
https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-and-Erbil-3-6
Dollar Falls In Baghdad And Erbil Markets
2026-04-Shafaq News- Baghdad/ Erbil The US dollar closed Sunday’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 155,100 dinars per 100 dollars, down from the morning session’s 155,500 dinars.
In the Iraqi capital, exchange shops sold the dollar at 155,500 dinars and bought it at 154,500 dinars, while in Erbil, selling prices stood at 154,650 dinars and buying prices at 154,550 dinars.
https://www.shafaq.com/en/Economy/Dollar-falls-in-Baghdad-and-Erbil-markets-9-9
Gold Prices Stabilize In Baghdad And Erbil Markets
2026-04-26 Shafaq News- Baghdad/ Erbil On Sunday, gold prices hovered around 1.03 million IQD per mithqal in Baghdad and Erbil markets, holding steady, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1,031,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1,028,000 IQD. The same gold had sold for 1,031,000 IQD on Saturday.
The selling price for 21-carat Iraqi gold stood at 1,001,000 IQD, with a buying price of 998,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1,030,000 and 1,040,000 IQD, while Iraqi gold sold for between 1,000,000 and 1,010,000 IQD.
In Erbil, 22-carat gold was sold at 1,071,000 IQD per mithqal, 21-carat gold at 1,023,000 IQD, and 18-carat gold at 876,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-stabilize-in-Baghdad-and-Erbil-markets-9