Iraq’s Oil Exports Surge in September Due to Growing Demand from China and India

Iraq’s oil exports saw a significant increase in September, driven by the growing demand from China and India. Asia continues to dominate the markets for Iraq’s seaborne oil exports.

According to official statistics from Iraq, China imported 1.106 million barrels of oil per day, which is an increase of 34,000 barrels compared to the same period last year.

India also showed a marked rise in oil imports, bringing in 873,000 barrels per day, which represents an increase of 39,000 barrels year-on-year.

Additionally, South Korea’s oil imports rose to 293,000 barrels per day, a 6,000-barrel increase from the previous year.

Demand for Iraqi oil has also been growing in Europe. Greece imported 197,000 barrels per day, up slightly from 192,000 barrels last year. France’s imports surged to 134,000 barrels per day, a significant increase from just 45,000 barrels in the previous year.

Iraq, the second-largest oil producer within OPEC, heavily depends on oil exports to sustain its economy and maintain its influence in the global energy market. The growing imports from China, India, and Europe have emerged as key drivers of Iraq’s export increase.