Iraq has secured energy agreements with US companies valued at approximately $200 billion, according to the country's oil minister.
The deals were finalized during a visit to Washington by Iraqi Prime Minister Ali al-Zaidi, signaling a renewed push to deepen commercial ties with American energy firms.
With oil revenues constituting 84% of Iraq's federal income through May 2026, securing stable, high-value partnerships is critical for Baghdad's fiscal planning.
The announcement comes as US imports of Iraqi crude oil and petroleum products have shown volatility, falling by nearly half in April 2026 to 4.029 million barrels from 7.943 million barrels in March, according to data from the US Energy Information Administration.
The new contracts aim to stabilize and expand this flow, potentially locking in long-term supply commitments for US refiners.
For global markets, the scale of the deal underscores Iraq's strategic priority to diversify its export base and secure investment in its upstream and downstream sectors.
With oil revenues constituting 84% of Iraq's federal income through May 2026, securing stable, high-value partnerships is critical for Baghdad's fiscal planning.