Signal · Commodities & Input Costs
Iraq Builds 2027 Budget on $58 Oil—and a Very Large Deficit
What the source reported
Source-reportedIraq is building its 2027 budget around $58 oil, a far cry below what the country actually needs to balance its books. The draft budget assumes crude exports of roughly 4 million barrels per day, including Kurdistan, with total spending of 217 trillion dinars, or about $166 billion. Even at those assumptions, lawmakers say the budget would run a deficit of more than 40 trillion dinars. At 4 million bpd and $58 per barrel, Iraq would generate roughly $85 billion in annual gross crude export revenue before accounting for discounts, transport costs…
- Publication
- Oilprice.com · Trade Publication
- Published
- 6th October 2026
- Original report
- oilprice.com
ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.
What ProcIntel recorded
ProcIntel-derived- Category
- Commodities & Input Costs
- Geography
- Global
- Organisations
- None identified
- Collected
- 6th October 2026 · 21:34
Initial assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Initial Significance Low (14.0/100). Strongest contributor: Procurement Impact (6.0/30 points). Limiting factor: Geographic Breadth (0.0/10 points). Initial Confidence Low (31.5/100, data sufficiency: Partial). Strongest contributor: Source Authority (20.0/40 points). Limiting factor: Corroboration (2.5/25 points).
- Strongest contributor
- Procurement Impact
- Limiting factor
- Geographic Breadth