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Iraqi Ministry of Oil Announces May Oil Export Figures

Gulan Media June 27, 2024 News
Iraqi Ministry of Oil Announces May Oil Export Figures

The Iraqi Ministry of Oil has released its final statistics for crude oil exports for the month of May. According to the Iraqi Oil Marketing Company (SOMO), total crude oil exports reached 104,130,292 barrels.

The Ministry's statement highlighted that all of these exports originated from oil fields located in central and southern Iraq.

Iraq's oil exports are predominantly directed towards Asian markets, with India, China, and South Korea emerging as the top importers. The United States also remains a significant destination for Iraqi oil, along with various European countries.

As the second-largest crude oil producer within the Organization of the Petroleum Exporting Countries (OPEC), Iraq holds the world's fifth-largest proved reserves of crude oil, underscoring its vital role in the global energy market.

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