Iraq Proposes $58 Oil Price Assumption in 2026 Draft Budget

Key Facts

Iraq has proposed an oil price assumption of $58 per barrel in its draft budget for 2026. Reuters reported that the Iraqi government drafted this proposal to establish a fiscal framework based on projected energy revenues, which are critical to the national economy.

The move by the major OPEC producer reflects a conservative approach to fiscal planning, aiming to ensure stability amid fluctuations in global energy markets. By setting a cautious price benchmark, the government seeks to secure the necessary funding for national expenditures while mitigating risks associated with price volatility.