Expectations of Iraqi oil revenue growth and crude export stability

Economy Iraqi oil revenues are heading towards an increase during the current month, with Gulf and Iraqi oil exports recovering more than 80% of their previous levels before the closure of the Strait of Hormuz, amid expectations that Iraq's total exports will reach about 3 million barrels per day. Economic expert Nabil Al-Marsoumi stated that the net selling price of a barrel of Iraqi crude oil currently stands at about 65 dollars, despite the price discounts granted by the Iraqi Oil Marketing Company (SOMO) for shipments exported via the Strait of Hormuz, which reach 37 dollars per barrel. He added that the recovery in oil shipment levels reinforces expectations of an increase in Iraq's exports during the current month, which may push oil revenues to levels close to those achieved by Iraq before the closure of the strait.