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- Baghdad - IQ
The Iraqi Oil Marketing Company announced raising the export ceiling in compliance with a decision by the Organization of "OPEC".
The company's general manager, Alaa Khader Al-Yasiri, said in a statement to the official newspaper, followed by IQ News, that "the Organization of Petroleum Exporting Countries (OPEC) recently committed Iraq to increase its oil exports to 3 million and 800 thousand barrels per day," explaining that "this increase cannot affect the Strategic oil reserves.
He added, "The increase in Iraq's exports is directly proportional to the increase in production levels planned within the (OPEC) agreement and the countries allied with it," noting that "the amount of oil exported for the month of July achieved initial revenues of 10 billion and 541 million and 594 thousand and 258 dollars."
Al-Yasiri pointed out that "the company's policy is limited to its dealings with companies that own refineries, to achieve the fair value of Iraqi crude oil sales, as it markets crude oil and gas for the purpose of reaching its goals by contracting to sell crude oil available for export with standard contracts that apply to all customers in accordance with approved and known standards in The global oil market, in light of the quantities available for export and a unified price formula for all buyers within the single market, known as the official declared price.