Iraq exported just over 32.1 million barrels of crude oil during May and June 2026, generating approximately $2.34 billion in revenue, according to figures released by the Iraqi Ministry of Oil. The sharp decline in exports follows the closure of the Strait of Hormuz, which has severely disrupted the country's oil trade.

The ministry reported that total crude oil exports for the two-month period reached 32,114,677 barrels, earning $2,335,537,399 in revenue.

Exports from Basra accounted for the largest share, totaling 20,238,836 barrels, while the Kurdistan Region exported 1,564,625 barrels. An additional 10,311,216 barrels of Kirkuk crude were transported through Türkiye’s Ceyhan export terminal.

The dramatic fall in exports comes amid escalating tensions between the United States and Iran, which led to the closure of the Strait of Hormuz—one of the world's most critical energy shipping corridors.

Prior to the disruption, Iraq exported more than 3.6 million barrels of crude oil per day. However, officials say the closure of the strategic waterway has halted more than 90 percent of the country's normal oil exports.

To mitigate the impact, Iraq has increasingly relied on the Kurdistan Region’s pipeline to Türkiye’s Ceyhan port while expanding the use of tanker shipments through Syria as alternative export routes.