Iraqi Oil Ministry said on Tuesday that it exported more than 80 million barrels of crude oil in August, bringing in revenues of over 3.5 billion U.S. dollars.
Iraq's total exports of crude oil during the 31 days of August reached 80.49 million barrels with an average of 2.59 million barrels per day, a ministry's statement said, citing statistics of the State Organization for Marketing of Oil.
The average selling price for crude oil in August was about 43.69 dollars per barrel, the statement added.
According to the ministry statement, about 77.5 million barrels were exported from Iraq's central and southern oil fields via Basra ports, while about 2.98 million from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean.
Iraq, OPEC's second-largest producer, is scheduled to cut exports to below 2.8 million bpd of crude oil from its average exports of 3.4 million bpd in the previous months as part of its commitment to the OPEC Plus agreement that aimed to help bolster oil prices in the world markets since their collapse in April due to the coronavirus pandemic.
Iraq's economy heavily relies on the exports of crude oil, which accounts for more than 90 percent of the country's revenues.
Editor: Galia
