Iraqi oil exports witnessed a slight decline during last April. It reached 3.412 million barrels per day, compared to 3.423 million barrels per day in March 2024, and thus the total Iraqi oil exports during the month of April reached 102.387 million barrels, according to what was announced by the Iraqi Ministry of Oil.

This slight decrease is due to multiple factors, the most important of which is Iraq’s commitment to production agreements with OPEC and the OPEC+ alliance.

Iraqi Oil Minister Hayan Abdul Ghani announced his country's rejection of any new cuts in crude oil production during the OPEC+ meeting scheduled for next June.

It is noteworthy that since July 2023, Iraq has entered into a voluntary reduction in oil production by 220 thousand barrels per day, while also committing to a mandatory reduction within the OPEC+ alliance that began in November 2022 and continues until next December, with a total reduction for the 23 coalition countries amounting to approximately 3.6 million barrels per day.

These data indicate Iraq's commitment to international production agreements, while seeking to maintain the stability of oil prices in global markets.

Crude oil revenues still constitute a major source for the Iraqi economy. Which makes any changes in export prices or quantities have a significant impact on the country’s public finances.

The Iraqi Ministry of Oil did not release any information about its revenues from crude oil sales during the month of April. Which indicates that it has continued to suspend the publication of these data since the beginning of this year without explanation.

This step raises questions about the reasons for the ministry’s suspension of publishing data on its oil revenues, especially in light of the difficult economic conditions that Iraq is going through.