Iraqi oil exports and revenues skyrocket in August

Surge in output from both federal Iraq and Kurdistan were backed by increasing oil prices.
Tankers dock at the al-Basra Oil Terminal. (BEN LANDO/Iraq Oil Report)

Terminals in the Basra Gulf and Kurdistan-controlled Ceyhan in August combined for a record average of 4.028 million barrels per day (bpd) of oil exports, representing a 4 percent increase from July.

The federal government exported 3.583 million bpd – its highest monthly average ever – and earned $7.729 billion on an average $69.593 per barrel, according to an Oil Ministry statement on Sunday.* The Kurdistan Regional Government (KRG) does not provide monthly revenue or export data.

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