Iraqi oil under the microscope: Who’s selling it in Baghdad’s name? Analysis by expert Yahya Al-Aqabi

Oil expert Yahya Al-Aqabi showed that the rumors about oil smuggling from Iraq “in its actual experience” do no longer agree to the winning economic machine. He explained that the revenues from Iraqi oil formally exported via the nation Oil advertising and marketing business enterprise (SOMO) are deposited within the US Federal Reserve in a unique account inside the name of the Iraqi authorities.

Al-Aqabi advised the dinaropinions.com , “those sales are best dispensed in direct coordination with the Iraqi Ministry of Finance, below global supervision, and with specific techniques, making any manipulation or smuggling alongside this route nearly impossible.”

He brought that “Iraq, as a member of OPEC, is situation to unique production ceilings agreed upon inside the organisation’s mechanisms, and monitored periodically to make certain compliance and non-exceedance.” He defined that “any quantity of oil produced and formally exported is in the mounted ceiling and underneath OPEC’s technical and political oversight.”

Al-Aqabi concluded by pronouncing, “If the oil being sold is not in the beginning Iraqi, and is supplied as Iraqi oil without passing through reputable SOMO channels, then this case is classed as fraud and smuggling, and has no connection to the reliable Iraqi device.”