Basra seaborne oil exports triple in June

Shafaq News- Baghdad

Iraq's crude oil exports from Basra averaged about 870,000 barrels per day (bpd) in June, tripling from May after shipping partially resumed through the Strait of Hormuz, State Organization for Marketing of Oil (SOMO) said on Wednesday.

Exports through the Ceyhan pipeline averaged about 230,000 bpd last month, roughly half the pipeline's historical export rate. Crude produced from Iraq's federal oil fields accounted for approximately 176,000 bpd of the total volumes exported through the northern route.

SOMO reported earlier that Iraq's petroleum product exports fell nearly 16% year-on-year to 2.35 million tonnes in the first quarter of 2026. Crude oil remains Iraq's main source of income, accounting for about 90% of federal revenue and generating around 84% of the country's total government income during the first four months of the year.

Read more: Iraq's oil lifeline is blocked: Here is why the crisis runs deeper than Hormuz