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Iraq is experiencing a significant decline in oil production due to geopolitical repercussions, with the average output decreasing from over 4.1 million barrels per day at the beginning of the year to its lowest point of 1.4 million barrels in May 2026. This has resulted in a loss of approximately 302 million barrels of production over six months compared to normal levels, driven by war and regional tensions. Experts warn that ongoing decreases in flows from the Gulf could threaten the Iraqi economy, as regional supplies are reduced by up to 50%. They are calling for the development of alternative export corridors, such as the Levantine route, to ensure production stability and address the crisis.
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