In compliance with Opec's decision, Iraq's exports will rise to 3 million and 800 thousand barrels per day

In compliance with Opec's decision, Iraq's exports will rise to 3 million and 800 thousand barrels per day
16th August, 2022

The Iraqi Oil Marketing Company announced raising the export ceiling in compliance with a decision by the Organization of the Petroleum Exporting Countries (OPEC), confirming that oil revenues for the month of July exceeded 10 billion dollars

The company's general manager, Alaa Khader Al-Yasiri, said in a statement, "The Organization of Petroleum Exporting Countries (OPEC) recently committed Iraq to increase its oil exports to 3 million and 800,000 barrels per day," explaining that "this increase cannot affect the strategic oil reserves

He added, "The increase in Iraq's exports is directly proportional to the planned rise in production levels within the (OPEC) agreement and the countries allied with it," noting that "the amount of oil exported for the month of July achieved initial revenues of 10 billion and 541 million and 594 thousand and 258 dollars

Al-Yasiri pointed out that "the company's policy is limited to its dealings with companies that own refineries, to achieve the fair value of Iraqi crude oil sales, as it markets crude oil and gas for the purpose of reaching its goals by contracting to sell crude oil available for export with standard contracts that apply to all customers in accordance with approved and known standards in The global oil market, in light of the quantities available for export and a unified price formula for all buyers within the single market, known as the official declared price



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