23 October 2026 | Baghdad – New Delhi

Tanker-tracking data published by Reuters on October 22 revealed a sharp increase in Iraqi oil exports to India during September, as Indian refiners stepped up purchases of Middle Eastern crude. No significant new economic decision by the Iraqi government was announced in recent hours.

Key Figures:

▪️ Iraqi oil: 830,000 barrels per day in September, compared with 171,000 in August — an increase of 659,000 barrels per day.

▪️ India’s total oil imports: 5.33 million barrels per day, up 20% from August.

▪️ Middle Eastern crude: 2.8 million barrels per day, accounting for 54% of India’s total imports.

▪️ Russian oil: Purchases declined by 14% to 1.8 million barrels per day.

▪️ Supplier rankings: Russia remained India’s largest oil supplier, followed by the UAE and Iraq, which regained a significant share of the Indian market.

⚖️ The Observer’s View

The increase in exports offers Baghdad an opportunity to recover some of the dollar revenues lost to recent disruptions in shipping and trade. However, it also highlights Iraq’s continued dependence on oil, a limited number of markets, and vulnerable export routes.

What matters is not how many additional barrels Iraq exports, but how much money actually reaches the public treasury after production costs, transportation expenses, discounts, and financial obligations are deducted.

Prime Minister Ali Faleh Al-Zaidi’s government must clarify whether the additional exports are sufficient to offset losses caused by shipping disruptions and the depreciation of the Iraqi dinar.

This requires greater transparency in oil revenues, investment in export infrastructure, and economic diversification to strengthen public finances.

Conclusion: Rising oil exports are a positive indicator, but they do not automatically translate into a stronger economy or better living conditions for Iraqis.

Selling more oil cannot be considered a national achievement unless the revenues generate financial stability, better public services, and economic opportunities that genuinely benefit Iraqi citizens.