Iraq sells 10M oil barrels at discounted prices

Shafaq News- Washington/ Baghdad

Iraq recently sold 10 million barrels of oil at discounts of $25 to $28 per barrel through its southern ports, Iraqi sources told the Washington-based energy platform Al-Taqa on Sunday.

Indian companies purchased most of the shipments, which were loaded several days earlier, sources said.

Other sources confirmed that “Iraq had not sold any oil above $100 per barrel since the war involving Iran began, despite global prices reaching around $117 in Friday's trading session.”

A source at Iraq's State Oil Marketing Organization (SOMO) told Al-Taqa that the company had recently been unable to sell crude for more than $85 per barrel, although it sold some light crude shipments for around $90 a month earlier.

Separately, economic research group Eco Iraq said the country's crude oil exports totaled $37.39 billion from 533.46 million barrels shipped during the first nine months of 2026.