Iraq sells more than 3 million barrels of oil per day in August

The Iraqi Economic Observatory revealed, on Tuesday, the volume of Iraq’s oil exports during the month of August, which amounted to more than 108 million barrels.

The Iraqi Economic Observatory said in a press release that the Ministry of Oil has been delaying the issuance of preliminary data on Iraqi oil exports for some time, which was announced at the beginning of each month, as well as not announcing the average price of a barrel of Iraqi oil in the final data.

He added that according to the initial data monitored by the Iraqi Economic Observatory, Iraq’s exports during last August amounted to about 108 million barrels, at a rate of 3.47 million barrels per day.

The Observatory confirmed that China came in first place in Iraq’s exports, with 42% of the total sales in August, as China alone bought more than 45.3 million barrels, followed by India with 24%, which amounted to more than 26 million barrels, and 6 European countries, which constituted 17%, more than 18 million barrels.

He added that South Korea bought more than 6.8 million barrels.

The Observatory also indicated that Iraq has two types of crude oil that it sells to global markets, medium and heavy, noting that Iraq’s oil sales were 77% medium crude and 23% heavy crude.

According to statistics from the Iraqi Economic Observatory, the largest buyer of Iraqi oil during the month of August was the Chinese company Sinopec, followed by the Indian Oil Company.

The Iraqi Ministry of Oil announced at the end of last August that the total oil exports achieved for last July exceeded 108 million barrels of crude, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

Shafaq.com