The Ministry of Oil has confirmed that gasoline supplies across Iraq remain stable, dismissing reports of shortages in local markets. The statement comes as oil in Iraq continues to reflect broader global price movements alongside modest gains in Basra crude.
Officials said domestic production and strategic reserves are sufficient to meet demand, while Iraq’s oil exports maintain strong levels, particularly to the United States.
Oil Ministry Denies Gasoline Shortage
Ministry of Oil spokesperson Abdul Sahib Bzon Al Hassnawi told the Iraqi News Agency that claims of a gasoline crisis are inaccurate and unsupported by official data.
He stated that available gasoline stocks stand at 135 million liters, while daily production reaches 30 million liters, confirming that gasoline is available nationwide at appropriate prices.
Increase in High Octane Gasoline Production
Al Hassnawi noted that production is expected to stabilize further in the coming days with the FCC unit at the Basra refinery entering operation.
He explained that the unit will increase high octane gasoline output to about four million liters per day, adding that the figures announced are officially approved data for February.
Full Control Over Petroleum Products
The ministry emphasized that its technical and operational teams continue working around the clock to ensure uninterrupted supply of petroleum products, confirming full control over the distribution system with no recorded shortages.
H2: Global Oil Prices Hold Firm, Basra Crude Improves
Globally, oil prices held steady at the close of weekly trading on Friday, February 6, amid political volatility linked to US Iran relations and supply concerns.
Brent crude settled at 68.05 dollars per barrel, up 0.74 percent, while West Texas Intermediate closed at 63.55 dollars per barrel, rising by 0.41 percent.
Performance of Basra Crudes
Basra Heavy crude closed at 60.78 dollars per barrel, gaining about 0.48 percent, while Basra Medium reached 63.23 dollars per barrel, up 0.46 percent, in line with global trends.
Market observers attributed this stability partly to OPEC+ maintaining current production levels for March, easing short term supply pressures.
Iraqi Oil Exports to the United States
In a related development, the US Energy Information Administration reported that Iraq ranked as the third largest supplier of crude oil to the United States during the past week.
Iraqi exports to the US averaged 325,000 barrels per day, an increase of 242,000 barrels per day compared to the previous week.
Export Rankings
According to US data, Canada ranked first with average exports of 3.731 million barrels per day, followed by Saudi Arabia, then Iraq, ahead of Mexico, Brazil, and other suppliers.
Conclusion:
Together, these indicators point to continued stability in oil in Iraq, with secure gasoline supplies domestically and steady export performance internationally, despite a global market that remains sensitive to political developments.
