Iraqi officials say stable production and guaranteed revenue can be achieved through alternative routes, with daily oil export capacity exceeding 3 million barrels

⑴ Mazhar Mohammed Saleh, the financial advisor to the Iraqi Prime Minister, stated on Tuesday that Iraq will continue to maintain a stable flow of oil exports in order to maximize national fiscal revenue and address the budget deficit. ⑵ Saleh pointed out that the Iraqi economy is highly dependent on oil revenues, with crude oil exports accounting for about 90% of the country's public budget income. If oil prices can remain high for an extended period, Iraq is expected to reduce or even eliminate most of its budget deficit, increase fiscal surplus, and strengthen the foreign exchange reserves of its central bank. ⑶ Regarding the potential impact of regional situations on exports, Saleh said that Iraq has alternative export routes, including pipelines through Turkey to the Mediterranean, which helps reduce reliance on the Strait of Hormuz. At the same time, exports from southern ports are also operating normally. ⑷ Iraq is considering expanding its domestic processing capacity by building new refineries to increase the export of refined oil products instead of crude oil. In addition, Saleh mentioned that oil tankers can be used for land transportation, and currently, the capacity of about 20,000 oil tankers can support the transportation of more than 3 million barrels per day.