Economic expert Nabil Al-Marsoumi confirmed that the net selling price of Iraqi crude oil currently stands at approximately $65 per barrel, despite discounts provided by the State Oil Marketing Organization (SOMO) reaching $37 per barrel for shipments traversing the Strait
of Hormuz. Al-Marsoumi explained that the recovery in maritime traffic has helped Gulf oil shipments, including those from Iraq, regain over 80% of their operational volumes recorded prior to the strait’s closure, with projections indicating Iraqi total exports could approach
3 million barrels daily. This steady recovery reinforces projections of rising crude revenues this month, approaching benchmarks achieved before the disruptions.
