Iraq Economic News and Points To Ponder Wednesday Afternoon 7-01-26

US Oil Imports From Iraq Drop To 4M In April

2026-07-01 08:30   Shafaq News- Washington   US imports of Iraqi crude oil and petroleum products fell sharply in April 2026, dropping to 4.029M barrels from 7.943M barrels in March, according to the US Energy Information Administration (EIA).

Total US oil imports from OPEC member states also declined in April, reaching 37.107M barrels compared to 45.466M barrels the previous month.

Venezuela led OPEC suppliers to the United States in April with 14.471M barrels, followed by Saudi Arabia at 12.621M barrels. Iraq ranked third at 4.029M barrels, ahead of Algeria at 2.331M barrels, Libya at 1.754M barrels, and Nigeria at 1.370M barrels. Kuwait supplied 322,000 barrels and Gabon 209,000 barrels. The United States recorded no imports from the UAE during the same period. https://www.shafaq.com/en/Economy/US-oil-imports-from-Iraq-drop-to-4M-in-April

Dollar Slips In Baghdad, Rises In Erbil

Shafaq News- Baghdad/ Erbil   The US dollar closed Wednesday’s trading mixed in Iraq, hovering around 155,000 dinars per 100 dollars. According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,950 dinars per 100 dollars, down from the morning session’s 155,100 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 154,900 dinars and buying prices at 154,850 dinars.

https://www.shafaq.com/en/Economy/Dollar-slips-in-Baghdad-rises-in-Erbil

Chevron, Iraq Sign West Qurna 2 Confidentiality Deal

2026-07-01 06:23    Shafaq News- Basra   Iraq's Basra Oil Company signed a confidentiality agreement with US energy giant Chevron on Wednesday to exchange technical information for evaluating the West Qurna 2 oil field and advancing negotiations on its future development.

Oil Minister Bassem Mohammed Khudair Al-Abadi, who attended the signing ceremony, noted that Russia's Lukoil had withdrawn from developing West Qurna 2, one of Iraq's largest oil fields, while the ministry continues negotiations with Chevron over the field and other projects.

Al-Abadi said the Oil Ministry is expanding opportunities for international energy companies by providing a secure investment environment and removing obstacles to investment. Iraq aims to strengthen its position among the world's leading oil producers and exporters, he added, reaffirming the ministry's commitment to working with international energy companies, which he described as key partners in developing the country's oil and gas sectors.

Foreign investment, he stressed, would create opportunities for Iraqi businesses, generate jobs, and improve infrastructure and public services in nearby communities through corporate social responsibility initiatives.

Discovered in 1973, the field contains more than 13 billion barrels of recoverable reserves and produces between 400,000 and 480,000 barrels per day, accounting for nearly 10% of Iraq's total crude output.

Read more: Russia’s Lukoil turmoil deepens risks for Iraq’s West Qurna-2 oilfield

https://www.shafaq.com/en/Economy/Chevron-Iraq-sign-West-Qurna-2-confidentiality-deal

Strict Directives To Subject Government Vehicles To Strict Inspection On External Roads Inside Iraq

Twilight News – Diyala   Security sources said on Wednesday that the competent authorities have received strict directives to stop government vehicles and subject them to a thorough inspection, especially on the main roads and lines linking the central, north and south governorates.

The sources told Shafaq News that these measures have entered into force and include official wheels between the provinces, in order to thwart any attempts to smuggle money or documents, or any other assets that may be linked to files currently under investigation.

This field step comes in conjunction with an escalating anti-corruption campaign launched by the government at dawn last Sunday, and affected officials, deputies and businessmen, which Prime Minister Ali al-Zaidi described as the "first phase" of a broader path to recover public money, directing the regulatory bodies to fully mobilize to receive any indicators related to corruption or institutional failure.

In a related context, the Strategic Center for Human Rights warned on Tuesday morning of misleading campaigns aimed at spreading frustration by claiming that anti-corruption efforts will stop or that they will not reach "large heads," considering those attempts an effort to undermine public confidence in the ongoing government and judicial measures. LINK

Iraq Imports $1.5B Worth Of Fruit And Nuts In 2025

2026-07-01 15:09    Shafaq News- Baghdad   Iraq imported $1.541 billion worth of edible fruits, nuts, citrus peel, and melons in 2025, up 23.3% from $1.250 billion a year earlier, according to Trade Map data.

The increase amounted to about $291.5 million year-on-year, with fresh and dried citrus fruits accounting for the largest share of imports at $706.8 million. Bananas followed at $275.2 million, ahead of nuts ($199.2 million), apples, pears, and quinces ($122.7 million), and apricots, cherries, peaches, and plums ($79.1 million).

Iraq ranked among the countries importing more than $1.5 billion worth of fruits and nuts in 2025, as global imports of the products reached $192.68 billion.

The United States remained the world's largest importer with $25.67 billion, followed by China ($20.69 billion), Germany ($16.27 billion), the Netherlands ($10.45 billion), and the United Kingdom ($8.29 billion).

https://www.shafaq.com/en/Economy/Iraq-imports-1-54-billion-worth-of-fruit-and-nuts-in-2025