Baghdad, Iraq — Iraq’s oil revenues in August hit nearly $9 billion, according to the data issued by the Iraqi Oil Marketing Company (SOMO).
The $8.99 billion revenue came from crude oil exports of more than 106 million barrels, the country’s Ministry of Oil said in a statement, according to the Iraqi News Agency.
“The total quantities of crude oil exported for the previous month from the oil fields in central and southern Iraq amounted to 105.236 million barrels, while exports of Qayyarah amounted to 420,000 barrels, and exports to Jordan reached 464,725 barrels,” the statement said.
The oil exports were shipped by a total of 38 international companies from the ports of Basra, Khor Al-Zubair, single floats, the modern Kirkuk warehouse with tank trucks and from the Qayyara field.
The average price per barrel was 84.78 dollars. The high level of oil exports is a positive sign for the Iraqi economy, which is heavily reliant on oil revenues. The government is using these revenues to fund infrastructure projects, social programs, and security forces.
