Iraqi Oil Exports to Jordan: A Year in Review
In 2023, Iraqi oil exports to Jordan demonstrated significant volume, totaling over 3.6 million barrels. According to data released on the Somo website, the exports for the past year amounted to 3,620,210 barrels, marking a decrease of 5.66% compared to the 3,825,879 barrels exported during the same period in the previous year.
Monthly Export Rates and Adjustments
The monthly average for Iraq’s crude oil exports to Jordan was approximately 301,000 barrels. In a strategic move during August 2023, Jordan and Iraq reached an agreement to increase the monthly import quota from 10,000 barrels to 15,000 barrels. This adjustment effectively raises the total monthly import from 300,000 to 450,000 barrels, which meets around 10% of Jordan’s crude oil requirements.
Conclusion
The refined dynamics of Iraqi oil exports to Jordan underscore ongoing bilateral cooperation in energy supply and reflect the changing landscape of regional oil dependency. As these trends develop, stakeholders in the energy sector will closely monitor these shifts to optimize resource allocation and fulfill demand effectively.
