Iraq
net exporterHow much oil?
Produces 4.3 million barrels a day. Uses 23% at home and sells 3.4 million (77%) abroad – 2 supertankers a day.
Where does it go?
| Buyer | share | thousand b/d |
|---|---|---|
| China | 36% | 1,282 |
| India | 28% | 1,006 |
| South Korea | 8% | 279 |
| USA | 6% | 225 |
| Greece | 5% | 165 |
| Turkey | 4% | 150 |
| Netherlands | 4% | 144 |
| Italy | 2% | 88 |
| France | 2% | 75 |
| Germany | 2% | 66 |
| Spain | 1% | 34 |
| Bulgaria | 1% | 25 |
| Serbia | 1% | 22 |
| Austria | 0% | 5 |
Which way?
- Strait of Hormuz100% of exports · 3,566
- Strait of Malacca44% of exports · 1,561
- Bab el-Mandeb22% of exports · 774
- Suez Canal / SUMED22% of exports · 774
- Cape of Good Hope6% of exports · 225
- Turkish Straits5% of exports · 175
Real risk: Strait of Hormuz – 100% of exports this way. Iran has repeatedly threatened to close the strait; tankers were attacked in 2019 and 2024.
Main terminal: Basra