Iraq's oil exports exceeded 108 million barrels in August

Shafaq News/ Iraq's oil exports in August surpassed 108 million barrels, the Iraqi Economic Observatory revealed on Tuesday.

According to a statement from the Observatory, the Ministry of Oil has been delayed in releasing initial data on Iraqi oil exports, which were previously announced at the beginning of each month. The ministry has also not provided the average price per barrel of Iraqi oil in its final reports.

The observatory's preliminary data indicates that Iraq exported approximately 108 million barrels in August, averaging 3.47 million barrels per day.

“China was the largest recipient of Iraqi oil, accounting for 42% of August's total exports, with over 45.3 million barrels. India followed with 24% of the total, importing more than 26 million barrels. Six European countries together imported 17%, totaling over 18 million barrels.”

South Korea purchased over 6.8 million barrels.

The observatory noted that Iraq sells two types of crude oil on the global market: medium and heavy. Sales were 77% medium crude and 23% heavy crude.

According to the observatory's statistics, the largest buyer of Iraqi oil in August was the Chinese company Sinopec, followed by the Indian Oil Corporation.

The Iraqi Ministry of Oil announced at the end of August that total oil exports for July exceeded 108 million barrels, based on final statistics released by the Iraqi Oil Marketing Company, SOMO.