Iraq Clarifies September Export Figures

Iraq's crude oil exports have averaged around 2.6 million barrels per day (bpd) during September, according to the Ministry of Oil, which issued a clarification following media reports suggesting exports had reached 4 million bpd.

The Ministry stated that the 4 million bpd figure reflected a single day's exports, driven by a shipment from State Oil Marketing Organization (SOMO) of crude oil routed outside the Strait of Hormuz. The tanker carried Qayara oil field crude, combined with other volumes loaded for export and sale from the southern ports and quantities exported via the northern outlet, which are loaded according to loading schedules as economically viable tanker quantities become available.

The Ministry noted that the 2.6 million bpd average for September remains subject to change depending on actual export volumes in the remaining days of the month. It described the rate as a significant achievement given current conditions, including the continued closure of the Strait of Hormuz, and said exports were being maintained at the highest possible levels to generate revenue for the state treasury.