Iraq, OPEC’s third-largest oil producing nation, increased its exports to 2.876 million barrels per day (mmbbl/d) in October up from 2.613 mmbbl/d in the previous month, according to Zawya. 

When the exports are broken down, the country’s southern Basra terminals exported 2.77 mmbbl/d in October, up from 2.5 mmbbl/d the month before, the ministry added.

Furthermore, oil shipments from Kirkuk through Ceyhan averaged around 92,484 bbl/d in October.

 Iraq’s October revenue from oil stood at $3.43 billion with an average price per barrel of $38.48.

Iraq is aiming to increase investment in the domestic market with international oil companies (IOCs) such as Lukoil and Total looking to set up new oilfield projects.