Baghdad (IraqiNews.com) – Iraq’s State Organization for Marketing of Oil (SOMO) revealed last week that the country’s oil revenues hit $18.67 billion during the first half of 2026 as exports reached approximately 268 million barrels of crude oil.
SOMO data indicated Iraq’s oil exports in the first half of 2025 were 606.58 million barrels, more than double the quantity exported in the same period in 2026.
The reported revenues for just the first four months of 2025 reached nearly $27.514 billion, exceeding the total oil revenues generated during the entire first half of 2026.
The figures show a considerable decline in both crude oil export volumes and income in the first half of 2026 compared to the same time last year.
The Iraqi Ministry of Oil reported last Tuesday that the country’s crude oil exports during May and June 2026 totaled approximately 32.11 million barrels, averaging over 16 million barrels per month.
The country’s oil exports reached 9.88 million barrels in April and around 18.6 million barrels in March.
Iraqi oil export earnings in May and June 2026 reached approximately $2.33 billion, averaging $1.16 billion per month, compared to $1.87 billion in April, $1.95 billion in March, and approximately $6.81 billion in February.
The decline in exported volumes and produced profits coincides with regional tensions that negatively impacted the region’s energy supply chains and maritime traffic in recent months.
