In November, Reuters mentioned that Iraq’s fuel oil exports are likely to cross 18 million metric tons (380,000 barrels per day) in 2024, a record-high annual output that exceeds the 14 million tons achieved in 2023, according to projections based on data from Kpler, a global trade information source, and London Stock Exchange Group (LSEG).

Oil prices fell more than 1% on Friday and were headed for their first monthly drop since November, as markets braced for Washington's new tariffs and Iraq's decision to resume oil exports from the Kurdistan region.