Will Iraqi Oil export be increased during the month of June 2016?

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On Tuesday, Iraqi Oil Ministry issued a statement regarding the Iraqi oil export news spread by some media channels.

The Iraqi Ministry of Oil has declared in a press statement that some media channels have discussed that Iraq will export at least 5 million barrels in the month of June 2016. The Oil Ministry of Iraq confirmed that Iraq is committed to the monthly available quantity of oil export in the month of June 2016. It is also said that export rate would reach not only at the level of last month export quantity of oil export, but it would be increased significantly in the month of June 2016.

Iraq Oil Ministry Logo

The Oil Ministry of Iraq denied all the news spread on the media that Iraqi will export at least 5 million barrels oil in the month of June 2016. He confirmed that increase in oil export depends on the Petroleum licenses, improvement in the southern oil fields and payment of international oil companies under service contracts. The statement further indicated that Iraqi Ministry of Oil had confirmed earlier that Iraqi daily oil export quantity for the last month was estimated at 3.365 million barrels.

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