The Ministry of Oil revealed today, Friday, that it recorded the highest rate of oil exports in August, reaching nearly 70 million barrels for the first time since the outbreak of the war and the Strait of Hormuz crisis. It disclosed the revenue achieved, which it considered the highest since the start of the war, noting that current production stands at 3 million barrels, announcing a plan to export crude oil by sea outside the Strait of Hormuz.
The official spokesperson for the ministry, Salim Al-Rakabi, said in a press interview reviewed by "Video News Agency" that "Iraq's crude oil production rate exceeded 3 million barrels per day, while the crude oil export rate during August exceeded 2 million and 200 thousand barrels per day," pointing out that "the export rate of fuel oil reached about 30 thousand cubic meters per day."
He added that "Iraq's oil exports during August amounted to nearly 70 million barrels of crude oil, with an initial revenue that is the highest since the start of the war, reaching about 4 billion and 500 million dollars," emphasizing that "these figures reflect the importance of the oil sector and its role in supporting the national economy and enhancing the state's public revenues."
He clarified that "Iraq is heading within its strategic plans to export its crude oil by sea outside the strait; with the aim of increasing the market value of Iraqi oil, raising sales prices, maximizing achieved revenues, in addition to enhancing the flexibility of export outlets and ensuring the sustainability of export operations."