Iraq's oil exports rise after July drop

Iraqi oil exports saw a significant increase during August, reaching approximately 2.34 million barrels per day, marking a 73% rise compared to July, which was around 1.35 million barrels per day. This rebound is attributed to an increase in the number of tankers arriving at oil export ports and improved shipping movement through the Strait of Hormuz after Iran allowed Iraqi tankers to pass. These developments helped offset a large part of the decline in exports seen in July, which is crucial for boosting Iraq’s revenues, heavily reliant on oil income. It is also expected that exports will rise further in September if the easing of shipping passage continues.

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