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Iraq's oil exports rose 2% in June

Category: Economy

Date: 2022-07-04T10:22:37+0000
Iraq's oil exports rose 2% in June

Shafaq News/ Iraq averaged 3.373 million barrels per day (bpd) in oil exports in June, 2.21% above May's 3.3 million bpd, the Ministry of Oil said on Monday.

Exports from the ports in the south of the country amounted to 3.266 bpd, up by 2.38% from May.

The exports from Kirkuk oilfields via Ceyhan port averaged 97 bpd, equal to last month.

Iraq's share under the OPEC+ quota system has been raised to 4.651 million bpd in July from 4.580 million bpd in June.

Oil expert Hamza al-Jawaheri said that loosening OPEC cuts and the good weather in the loading areas in the Arab Gulf contributed to the remarkable surge in Iraq's oil exports.

"The quotas will be reduced gradually over the next few months. Iraq will restore its basal production rates in September," he said.

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