Iraq records highest oil export rate since the (Hormuz) crisis at around 70 million barrels in August

Baghdad, Sept 4 (KUNA) -- Iraq’s Ministry of Oil announced on Friday that the country recorded its highest monthly oil export rate since the outbreak of the war in the region and the Strait of Hormuz crisis, exporting approximately 70 million barrels in August. The Iraqi News Agency quoted ministry spokesperson Salim al-Rukabi as saying that crude oil exports in August averaged more than 2.2 million barrels per day, while fuel oil exports reached about 30,000 cubic meters per day. He added that Iraq’s oil exports for August rose to nearly 70 million barrels of crude oil, generating initial revenues of around $4.5 billion, the highest since the war began. He noted that, as part of its strategic plans, Iraq is moving to export its crude oil by sea from outside the strait in order to increase the market value of Iraqi oil, raise selling prices, maximize realized revenues, enhance the flexibility of export routes, and ensure the sustainability of export operations. (End) A.H.H. / A.M.S.