CAIRO (Pakistan Point News / Sputnik - 30th November, 2022) Iraq is planning to increase oil exports from 3.35 million barrels per day to 3.6 million barrels per day in the second half of 2023, Saadoun Mohsen, Iraq's delegate at OPEC and a senior official at the State Oil Marketing Company (SOMO), said on Tuesday.
"Iraq is planning to increase oil exports by 250,000 barrels per day in the second half of next year - from the current 3,350,000 barrels per day to 3.6 million," the Iraqi news Agency quoted Mohsen as saying.
The official added that Iraq had developed several projects which would allow for a further increase in oil exports to 5.5 million barrels per day.
In May 2022, Iraq's revenue from oil exports hit a 50-year record and amounted to $11.477 billion. From May through September, Baghdad's monthly revenue figures gradually fell to $8.8 billion, with exports amounting to 98.7 million barrels. In October, income from oil exports rose to some $9.26 billion.
