Iraq authorities explain growing oil exports by lower domestic consumption

Iraq raised oil shipments to foreign markets by 3% at the end of October, to 3.53 million bpd. During the previous three months, the country's oil exports averaged 3.4 million barrels per day.

According to the Ministry of Oil, this dynamic is related to a drop in domestic oil consumption, which, in turn, could be due to seasonal variations or natural occurrences.

The ministry emphasized its adherence to the OPEC+ agreement in order to achieve oil market stability for producers, consumers, and investors, rather than "please some speculators seeking temporary gains."

source: reuters.com