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Iraq's oil revenues rose by 6.67% last August
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Economy News _ Baghdad
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Added 09/03/2023 - 11:45 AM
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Economy News _ Baghdad
Iraq's oil revenues increased by 6.67% on a monthly basis to reach $8.846 billion, while an economist attributed this to the rise in oil prices.
According to a set of data and statistics issued by the Ministry of Oil, seen by Al-Iqtisad News, the total oil revenues for the month of August rose by $553 million, or 6.67%, to reach $8.846 billion on a monthly basis, compared to July, when revenues amounted to $8.293 billion.
Total oil revenues from Basra oil exports through southern ports increased by 7% on a monthly basis to reach $8.781 billion, compared to July, when revenues amounted to $8.207 billion.
According to the data, Iraq exported crude oil to Jordan through basins, with revenues amounting to $33 million, amounting to 464,000 barrels.
Economic expert Muhammad al-Hassani attributed the increase in financial revenues to "the increase in Iraq's oil exports for the month of August by one million barrels to reach 106 million barrels," adding that "these exports remained restricted due to delays in modernizing the infrastructure, due to delays in modernizing pumping stations."
He added, "Prices got support from the rise in global oil prices, which amounted to between 84 and 87 dollars, due to the agreement of the OPEC + organization to make cuts in its production, which led to a reduction in the oil supply, which led to a rise in global oil prices despite the slowdown in the growth of the Chinese economy and the raising of The United States interest due to inflation, which leads to a slowdown in its economy."
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Added 09/03/2023 - 11:45 AM
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