Baghdad: Oil Minister Hayan Abdul Ghani announced that the exported oil volume ranges between 3.2 million and 3.5 million barrels per day.

According to National Iraqi News Agency, the Minister stated in a televised statement that seventy percent of Iraqi oil is exported to Asian markets, with China ranking first and India next on the list of importers of Iraqi oil. He further explained that eight major OPEC countries participated in the voluntary oil production cut, and the organization is pursuing a policy aimed at stabilizing the global market.

The Minister emphasized that there is no policy of excluding Western companies from oil contracts, highlighting that all companies have been invited to participate in the fifth and sixth licensing rounds. However, he noted that there was no effective participation from American companies in these supplementary rounds.

Abdul Ghani explained that the Ministry of Oil has secured 44 contracts from the new licensing rounds, with 14 governorates included in these rounds. Basra holds a significant portion of these contracts, accounting for 12 of them.