Iraq has reduced the average daily export of oil in August by 6 percentage points month-on-month down to 2.6 million barrels per day, the Iraqi State Oil Marketing Organization (SOMO) said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 29th September, 2020) Iraq has reduced the average daily export of oil in August by 6 percentage points month-on-month down to 2.6 million barrels per day, the Iraqi State Oil Marketing Organization (SOMO) said on Tuesday.
In July, Iraq exported an average daily 2.7 million barrels of oil.
Total exports in August amounted to 80.5 million barrels, as opposed to 85.6 million barrels in July, according to the SOMO. This includes 77.5 million barrels of oil sourced from the Basra field and 2.98 million barrels from the Kirkuk field.
Iraq's revenue from oil exports in August totaled $3.5 billion at the average crude cost of $43.3 per one barrel. The monthly revenue is the same as in July, when the average cost of one barrel was $40.7. The August revenue last year was $6.4 billion, with one barrel costing an average $54.4.
