According to economic researcher Diaa Abdul Karim, OPEC’s decision to reduce Iraqi oil exports by 130 thousand barrels will have repercussions and result in revenue losses for Iraq.
Abdul Karim stated, “The Barzani government continues to export by tankers, but the Kurdistan Region continues to export oil despite a decision by the Paris Court to stop exports to Turkey or the port of Ceyhan.”
“The quantity exported from the region unofficially was not counted as part of Iraq’s share allowed by OPEC, but the matter was revealed and the organization became aware of the quantity of the region’s exports, so it reduced Iraq’s share exported through Basra Governorate,” he added.
He noted that “in addition to the fact that the quantity exported through Basra decreased by 130 thousand barrels,” “the revenues from oil exports in the region were not delivered to Baghdad.”
“Baghdad lost 260,000 barrels of revenue due to the region’s exports,” it is abundantly clear.
