Baghdad (IraqiNews.com) – The spokesperson for the Iraqi Oil Ministry, Salim al-Rikabi, said on Thursday that the country’s oil exports during October are stable at a level of 2.7 million barrels per day, with the majority shipped from the southern terminals via the Strait of Hormuz.
Al-Rikabi explained that financial revenues generated from oil exports and other products range between $4.5 billion and $5 billion monthly, bolstering the country’s general budget.
Iraq’s oil exports increased in October to around 2.7 million barrels per day; approximately 2.4 million barrels come from the southern region, while export volumes from the northern region—including crude from Iraqi Kurdistan oilfields—range between 250,000 and 300,000 barrels per day.
These quantities are maintained despite the present crisis and challenges associated with production cuts, according to al-Rikabi.
The Iraqi official stressed that maintaining these export levels represents a big success for the Ministry of Oil.
Iraq’s oil exports include not only crude oil but also various petroleum products, such as fuel oil. The revenue generated from these exports contributes to the country’s federal budget.
