Iraq ranks second among Arab seaborne oil exporters in May
The figures showed that seaborne crude oil exports from the top five Arab exporters rose in three countries on a monthly basis, while Iraq and Libya recorded declines.
Saudi Arabia led the list in May, increasing its seaborne exports by approximately 266,000 barrels per day (bpd) from the previous month.
Iraq followed in second place with an average of 3.27 million bpd, down by 32,000 bpd compared to April's 3.3 million bpd.
Government reports indicated that Iraq aimed to keep exports below 3.2 million bpd in May and June to align with its OPEC+ production quota.
On a year-on-year basis, Iraqi exports fell by 294,000 bpd compared with May 2024, when they reached 3.56 million bpd.
The United Arab Emirates ranked third with exports rising to 3.02 million bpd, followed by Kuwait with 1.37 million bpd. Libya came fifth, with exports declining to 1.19 million bpd last month.
Meanwhile, economist Nabil Al-Marsoumi warned of potential disruptions to maritime trade routes in the event of a regional conflict between the United States and Iran, which could negatively impact oil supplies. He urged the resumption of exports via the pipeline from the Kurdistan Region to Turkiye's Ceyhan port.
In a social media post, Al-Marsoumi wrote, "If the US and Iran agree, the world will live in peace. If they disagree, the gates of hell will open.'
He noted that in case of escalation, 'maritime trade routes will close, oil export platforms will be destroyed, transport and insurance costs will surge, and oil supplies will be negatively affected, pushing prices higher.'
Al-Marsoumi added that Gulf oil-exporting countries would be severely impacted as export routes narrow or shut down, especially those lacking alternative outlets.
'The reviving the Ceyhan pipeline as more essential now than ever,' he concluded.
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