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Iraq brought in 56,300 barrels per day (bpd) of refined oil products in the second quarter of 2025, down from an average of 90,000 bpd in 2023.
At the same time, Iraq exported more than 180,000 bpd of naphtha—mostly to the UAE and about 300,000 bpd of fuel oil, highlighting how simple domestic refineries often convert crude into lower-value products rather than meeting demand for gasoline and diesel, according to S&P.
The reliance on refined imports underscores Iraq’s limited processing capacity despite being OPEC’s second-largest producer after Saudi Arabia, with oil exports forming the backbone of its economy, it said in a report.
Iraq reported last week that its refined output exceeded 1.3 million bpd and is poised to surge following the completion of some refining projects. Officials said this will allow the country to phase out imports of refined products over the next few years.
(Writing by N Saeed; Editing by Anoop Menon)
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