Al-Sudani Discusses With The Governor Of Najaf The Province’s Projects And Services For Visitors
Money and Business Economy News – Baghdad Prime Minister Mohammed Shia Al-Sudani received the Governor of Najaf, Youssef Makki Kanawi, on Monday to discuss ongoing service and development projects in the province.
During the meeting, the level of project implementation and the speed of their completion were discussed in order to serve the citizens, taking into account the religious significance of Najaf Al-Ashraf, which receives millions of visitors annually.
Al-Sudani stressed the importance of integration between the federal government and local governments, emphasizing the need for projects in the provinces to be consistent with the government’s major development plans.
EIA: Iraq’s Oil Exports To US Dip Over The Week
2026-04-12 Shafaq News- Baghdad/ Washington Iraq’s crude oil exports to the United States dropped 20,000 barrels per day (bpd) last week, US Energy Information Administration (EIA) data showed on Sunday.
According to the data, Iraqi shipments averaged 120,000 bpd last week, 14.29% less than the previous week’s average of 140,000 bpd.
Total US crude imports from seven major suppliers fell to 5.622 million bpd, down 218,000 bpd from 5.840 million bpd the previous week.
Canada remained the top supplier at 4.271 million bpd, followed by Saudi Arabia with 589,000 bpd, Venezuela with 321,000 bpd, and Mexico with 165,000 bpd.
Imports also included Brazil at 114,000 bpd, and Libya at 42,000 bpd. No oil was imported from Colombia, Nigeria and Ecuador this week.https://www.shafaq.com/en/Economy/EIA-Iraq-s-oil-exports-to-US-dip-over-the-week-6
6M+ Oil Barrels Clear Strait Of Hormuz
2026-04-12 Shafaq News- Baghdad Tankers carrying 2 million barrels of Iraqi crude and 4 million barrels of Saudi oil have transited the Strait of Hormuz bound for international markets, according to tracking platform TankerTrackers on Sunday.
Shipping activity in the waterway is also gradually recovering, with approximately 12 vessels transiting the Strait during the first two days of the US-Iran two-week truce.
The Strait of Hormuz, which carries roughly 20% of global oil supply, was effectively closed after US and Israeli strikes on Iran on February 28. Despite a previously granted exemption allowing Iraqi oil tankers to transit the Strait, Iraq’s oil sector saw a sharp downturn, with production falling from about 3.5 million barrels per day (bpd) to around 1.3 million bpd, while exports declined to roughly 800,000 bpd.
On Saturday, US President Donald Trump revealed the start of mine-clearing operations in the Strait, noting that the passage was not coordinated with Tehran. Iran rejected the claims, calling them “inaccurate,” further dismissing US allegations that it had laid mines in the strategic waterway. https://www.shafaq.com/en/Economy/6M-oil-barrels-clear-Strait-of-Hormuz
Iraq’s Cooking Gas Output Halves As Regional War Squeezes Oil Production
2026-04-12 Shafaq News- Baghdad Iraq’s LPG production has fallen by roughly 53% since the onset of regional hostilities, dropping from 9,500 tonnes per day to around 4,500 tonnes, the Eco Iraq economic observatory announced on Sunday.
In a report, the observatory said Iraq’s pre-crisis daily output included approximately 3,000 tonnes from the Basra Gas Company, with the remainder sourced from refineries and associated gas in oil fields. The sharp decline in oil production driven by the security escalation has opened a supply gap that daily household consumption -estimated at between 6,000 and 6,500 tonnes- cannot bridge.
To compensate, authorities have drawn on underground reserves, which stood at roughly 107,000 tonnes before the crisis but have since fallen to approximately 53,000 tonnes. The observatory called for urgent expansion of underground storage capacity and stressed the need to distribute reserves geographically across provinces rather than concentrating them in specific areas.
Iraqi Exports To UK Limited To $4M In 2025
2026-04-12 Shafaq News- Baghdad Iraq’s exports to the United Kingdom remained at just about $4 million in 2025, the United Nations Comtrade database showed on Sunday.
Iraqi shipments to Britain are largely concentrated in food products rather than oil, which dominates Iraq’s export profile in most other markets. Dates led the list at roughly $883,000, followed by processed food items, including molasses, at about $454,000. Smaller volumes included textiles worth around $134,000, alongside limited exports of light equipment and other basic goods.
According to a 2025 report from the Iraqi Ministry of Finance, Iraq’s total trade with the United Kingdom stood at $1.108 billion in 2024, up from $1.072 billion in 2023. https://www.shafaq.com/en/Economy/Iraqi-exports-to-UK-limited-to-4M-in-2025
Iraq Secures 123rd Spot In 2026 Global Prosperity Index
2026-04-12 Shafaq News- Baghdad Iraq ranked 123rd out of 193 countries in a 2026 global prosperity index, underscoring a widening gap between economic resources and living standards, CEOWORLD Magazine reported on Sunday.
The index measures prosperity beyond income and growth, focusing on how countries translate wealth into health, education, services, and overall well-being. Iraq scored 51.56 points, placing it in the “moderate to weak performance” range.
At the top of the global ranking, Switzerland led with 97.92 points, followed by Iceland with 97.81 and Australia with 97.70. Germany and Norway also remained among the highest performers.
In regional terms, the United Arab Emirates topped the Arab world, ranking 13th globally with 94.04 points. Saudi Arabia followed with 88.25 points, then Bahrain with 86.01 and Qatar with 82.70.
Oman ranked fifth in the region with 81.68 points, followed by Kuwait with 76.99, Jordan with 65.60, Tunisia with 64.80, and Egypt with 62.35. At the bottom of the index, Djibouti recorded 26.80 points, placing it in the “fragile prosperity” category. https://www.shafaq.com/en/Economy/Iraq-secures-123rd-spot-in-2026-global-prosperity-index
Oil Surges Past $100 On US Hormuz Blockade Plan
2026-04-13 Shafaq News Oil prices climbed above $100 a barrel on Monday as the U.S. Navy prepared to block ships to and from Iran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war.
Brent crude futures rose $6.96, or 7.3%, to $102.16 a barrel by 0430 GMT after settling 0.75% lower on Friday. U.S. West Texas Intermediate was up $8.12, or 8.4%, at $104.69 a barrelfollowing a 1.33% loss in the previous session.
“The market is now largely back to conditions before the ceasefire, except now the U.S. will block the remaining up to 2 million barrels per day Iranian-linked flows through the Strait of Hormuz as well,” said Saul Kavonic, head of energy research at MST Marquee.
President Donald Trump said on Sunday the U.S. Navy would start blockading the Strait of Hormuz, raising the stakes after marathon talks with Iran failed to reach a deal to end the war, jeopardising a fragile two-week ceasefire.
He added that the price of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political fallout from his decision to attack Iran six weeks ago.
“The mere threat of enforcement alone has been sufficient to re-price risk, demonstrating how vulnerable oil remains to geopolitical triggers,” said Priyanka Sachdeva, a senior market analyst at Phillip Nova.
“The return to triple-digit pricing, or the jump in a geopolitical risk premium that briefly faded during earlier ceasefire headlines, looks justified,” Sachdeva added.
U.S. Central Command said U.S. forces would begin implementing the blockade of all maritime traffic entering and exiting Iranian ports at 10 a.m. ET (1400 GMT) on Monday.
It would be “enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman,” a CENTCOM statement on X said.
U.S. forces would not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports, it added.
IG market analyst Tony Sycamore said the move would effectively choke off the flow of Iranian oil, forcing Tehran’s allies and customers to apply the necessary pressure to get the waterway reopened.
Iran’s Revolutionary Guards said on Sunday that any military vessels attempting to approach the Strait of Hormuz would be considered a violation of the two-week U.S. ceasefire and be dealtwith harshly and decisively.
Despite the stalemate, three supertankers fully laden with oil passed through the Strait of Hormuz on Saturday, shipping data showed. They appeared to be the first vessels to exit the Gulf since the ceasefire deal was struck last week.
Oil tankers are steering clear of the Strait of Hormuz ahead of the U.S. blockade on Iran, shipping data on LSEG showed.
On Sunday, Saudi Arabia said it has restored full oil pumping capacity through the East-West pipeline to about 7 million barrels per day, days after providing an assessment of damage to its energy sector from attacks during the Iran conflict.
(REUTERS) https://www.shafaq.com/en/Economy/Oil-surges-past-100-on-US-Hormuz-blockade-plan
