The Iraqi engine oil market is witnessing a significant phase of transformation, characterized by fluctuating trade volumes and price dynamics. This market plays a pivotal role in Iraq’s broader petroleum sector, impacting both domestic consumption and export activities. Recent data indicates a substantial increase in engine oil imports. The volume of imports has risen by approximately 15% over the past year, influenced by surging demand within Iraq for refined petroleum products. Concurrently, the price of imported engine oil has shown a moderate upward trend, with an average price increase of 5% over the last quarter. This price elevation is attributed to global crude oil price fluctuations and increased logistical costs. The export side of the engine oil market in Iraq is also facing notable changes. Export volumes have slightly decreased by 3%, primarily due to competitive pricing from other Middle Eastern suppliers and shifts in regional demand.

Despite this, the export price per barrel has remained stable, ensuring Iraq maintains its competitive edge in the regional market. This dynamic environment presents both challenges and opportunities for businesses engaged in Iraq’s petroleum market. Companies looking to invest or expand in this space should consider the broader economic factors affecting trade and pricing. For businesses seeking to navigate the complexities of Iraq’s engine oil market, Aritral offers an advanced solution. As an AI-driven B2B platform, Aritral provides comprehensive services such as Product Listing, Direct Communication with potential suppliers, Global Sales Assistance, and AI-Powered Marketing. These tools are essential for businesses aiming to enhance their presence in the international petroleum trade, streamline transactions, and manage business profiles efficiently.