Iraq’s oil exports collapsed to under 10 million barrels in April

BAGHDAD — Iraq exported fewer than 10 million barrels of oil in April, generating just over $1 billion in revenue, the Oil Ministry announced Monday — a fraction of the roughly 100 million barrels and $7 billion in monthly revenues recorded before the regional conflict disrupted shipping through the Strait of Hormuz.

The ministry said Iraq exported 9,884,130 barrels of crude oil and condensates during April, with total revenues reaching $1.087 billion. Basra oil exports totaled 4,587,610 barrels, Kirkuk exports through Turkey’s Ceyhan port amounted to 4,957,456 barrels, and Kurdistan Region exports through Ceyhan reached 339,064 barrels.

The collapse followed the effective closure of the Strait of Hormuz after U.S. and Israeli strikes on Iran triggered a wider regional conflict in late February, preventing tankers from reaching Iraqi southern ports. Basra Oil Company began a gradual suspension of production and exports on March 3. Basra Gas Company resumed condensate exports earlier this month after the suspension.

Oil revenues account for around 90% of Iraq’s government income.