The Strategist

Iraq increases oil exports in July

08/27/2021 - 07:11

Iraq increased the average daily volume of oil exports in July by 0.9% compared to the previous month, to 2.918 million barrels per day, according to data from the Iraqi State Oil Marketing Organization (SOMO).

Boyce Duprey
Boyce Duprey
As of June, the average daily oil supply from Iraq was 2.892 million barrels per day.

As a result, Iraq exported a total of 90.468 million barrels of oil in July and 86.766 million barrels in June. Including exports from the Basra fields in July was about 87.455 million barrels, and from the Kirkuk fields - 3.012 million barrels.

Iraqi oil export revenues for the month amounted to $6.476 billion at an average oil price of $71.58 per barrel. In June, these revenues were $6.143 billion at an average oil price of $70.8 per barrel, and in July 2020, they were $3.492 billion at $40.76 per barrel.