Iraq to increase oil export capacity

Iraq intends to increase its oil export capacity by 2 million barrels per day, said Muhammad Saadoun, director of strategic planning at the SOMO state company, Report informs.

Also, there are plans to resume the operation of the oil pipeline leading to Saudi Arabia with an export capacity of 1.2 million barrels per day, according to the INA agency.

In June, Iraq exported 3.37 million barrels of oil per day, which is 2.2% more than in May.

Iraq's revenues from oil exports in June amounted to $11.355 billion, with an average oil price of $112.21 per barrel.