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Energy

Iraqi oil sector weathers Iran conflict

Production and exports have not suffered major interruptions so far, but exodus of foreign oil workers and border closures highlight risks of disruption.
Iraqi Oil Minister Hayyan Abdulghani (center left, red tie) visits the Rumaila oil field on March 2, 2025. (Photo credit: Oil Ministry)

Fuel smuggling causes shortages and spiking prices

Smugglers are exploiting a growing margin between government-subsidized fuel and market prices in an illicit trade that is squeezing Iraq's fuel supply and costing the government billions.