Iraq

OPEC

Middle East

Production

4.4M bbl/d

Imports

221.1K bbl/d

Exports

3.8M bbl/d

Net Balance

3.6M bbl/d

Net exporter

Consumption by Product

2022 · thousand bpd

Petrol27.4%

Diesel34.2%

Kerosene2.7%

Jet Fuel8.2%

LPG6.8%

Fuel Oil13.7%

Other6.8%

Proven Oil Reserves

145.0B

barrels (proven)

~91 yrs

at current production

Abundant

050 yrs100+ yrs

Proven reserves = crude oil in the ground. Many countries import most of their refined fuel (petrol, diesel, jet fuel), so high reserves don't guarantee fuel supply security.

Production Trend

Price History

Refinery Capacity

Capacity

700 bbl/d

Throughput

500 bbl/d

Utilization

71.4%

Geopolitical Context

OPEC Member

Production quota: 4220K bbl/day

OPEC member. 2nd-largest OPEC producer. Ongoing disputes over Kurdish autonomous region exports.

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