By John Lee.
Iraq's Ministry of Oil has announced total financial revenues from oil exports to $75.650 billion for 2021, which it says is a marked increase on budgeted expectations for the year.
The Ministry's Deputy for Upstream Affairs, Kareem Hattab, pointed to the commitment of the OPEC+ producers in achieving stability in oil markets, and expressed his hope that the required balance between supply and demand will continue to be achieved in the year ahead, especially after the increase of 400,000 barrels per day that will be supplied to global markets by OPEC+ from March.
He said Iraq's quota will increase to 4,370 million barrels per day.
(Source: Ministry of Oil)