🔻Iraq says it has increased its daily oil export capacity to more than 3 million barrels

🔻Iraq says it has increased its daily oil export capacity to more than 3 million barrels

Bassem Mohammed Khudair, Iraq’s oil minister, said that the country has increased its crude oil export capacity to more than 3 million barrels per day and intends to raise this figure to 5 million barrels per day.

Mr. Khudair told Iraq’s official news agency that the country’s crude oil exports have reached about 3 million barrels per day since the beginning of September and that it intends to increase its export capacity to 5 million barrels per day after completing the strategic pipeline lines that connect Iraq’s oil fields to “Fishkhabour” in the north and the port of “Baniyas” in Syria on the Mediterranean Sea.

According to official figures, Iraq has about 145 billion barrels of proven oil reserves. Oil production in this country declined during the war between the United States and Israel against Iran, dropping from 3.3 million barrels before that war to about 1.3 million barrels per day, but the trend began to improve in mid-summer.