Iraq records highest oil revenues since the start of the aggression against Iran
Iraq records highest oil revenues since the start of the aggression against Iran
9-4-2026
Information/Baghdad…
The Ministry of Oil revealed that the highest rate of oil exports was recorded in last August, reaching nearly 70 million barrels for the first time since the outbreak of the war and the Strait of Hormuz crisis. While disclosing the size of the revenues achieved and considering it the highest since the start of the war, it pointed out that the current production reaches 3 million barrels, announcing the existence of a plan to export crude oil by sea outside the Strait of Hormuz.
The official spokesman for the Ministry of Oil, Salim al-Rikabi, said that “Iraq’s crude oil production rate exceeded 3 million barrels per day, while the rate of crude oil exports during the past month of August reached more than 2.2 million barrels per day,” indicating that “the rate of export of fuel oil reached about 30,000 cubic meters per day.”
He added that “Iraq’s oil exports during the month of August amounted to approximately 70 million barrels of crude oil, with an initial revenue that is the highest since the start of the war, reaching about 4 billion and 500 million dollars,” noting that “these figures reflect the importance of the oil sector and its role in supporting the national economy and enhancing the state’s public revenues.”
He explained that “Iraq, as part of its strategic plans, is moving towards exporting its crude oil by sea outside the Strait of Hormuz, with the aim of increasing the market value of Iraqi oil, raising selling prices, maximizing revenues, enhancing the flexibility of export outlets, and ensuring the sustainability of export operations.”
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