Iraq's August Oil Exports Hit Record
Iraq recorded its highest oil export rate since the Hormuz Strait crisis, reaching approximately 70 million barrels in August. According to the Ministry of Oil, the export rate exceeded 2.2 million barrels per day, with preliminary revenues of around $4.5 billion. Iraq's plans aim to export oil through offshore ports outside the Strait of Hormuz to increase market value, boost selling prices, and enhance port flexibility, ensuring the sustainability of export operations and increasing revenues.
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