Iraq’s Oil Ministry has announced it exported 111.06 million barrels in August 2018, or 3.58 million barrels a day (b/d), citing official figures from the state oil marketing company Somo.
Based on an average oil price of $69.59 a barrel in August, the Oil Ministry said it earned revenues worth $7.72bn from crude exports in the month.
The oil exported was produced from the assets in the country’s central and southern regions, and does not take into account crude output from the oil-rich north that includes Kirkuk and the semi-autonomous Kurdistan region.
The country’s crude is exported from the southern ports of Basra, Khor al-Omaia and the single point moorings on the Gulf.
Iraq, Opec’s second largest oil producer after Saudi Arabia, has been holding its exports steady this year, despite not being able to claim the northern oil due to Baghdad’s tensions with Erbil.
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