Pricing discounts drive August oil export surge

Iraqi oil exports have continued to climb in September, but Iran war re-escalation threatens to slow ship traffic as a tanker is hit in Iraqi waters.
Workers at the state-run Dhi Qar Oil Company perform maintenance at the Subba oil field in May 2026. (Photo credit: DQOC)
Staff of Iraq Oil Report
Thursday, September 10th, 2026

BASRA - Iraqi oil exports jumped by 50 percent from July to August as the government's oil marketing company, SOMO, offered unusually deep pricing discounts to entice buyers and offset shipping risks stemming from the U.S.-Iran war.

August exports averaged 2.377 million barrels per day (bpd), according to SOMO data seen by Iraq Oil Report, up from 1.586 million bpd in July.

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