Economist: Increased spending requires raising the percentage of oil exports in agreement with OPEC.
Economist: Increased spending requires raising the percentage of oil exports in agreement with OPEC.
9-14-2025
Al-Maalouma/Baghdad…
Economic researcher Diaa Abdul Karim believes there is an urgent need to increase oil exports to ensure the country’s operating expenses are covered.
Abdul Karim told Al-Maalouma, “Iraq currently exports more than 3 million barrels of oil, and the quantity may reach 3.4 million barrels, but these numbers change according to OPEC policies.”
He added, “Although these exported quantities meet most of the operating expenses, the budget deficit still exists, despite it being an estimated deficit and often overcome by postponing or delaying projects, or through amounts carried over from previous years.”
He explained that “increasing operating expenses after a series of appointments launched by the government in the recent period requires an increase in oil exports, especially since Iraq relies almost entirely on oil as a source of budget funding. The Ministry of Oil could pressure OPEC to increase exported quantities and open new export outlets to ensure increased revenues.”
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