Iraq's oil exports rise 5% in November

 
02/12/2021

Economy News _ Baghdad

Iraq's oil exports rose for the month of last November, by 5%, with Iraq's share rising to 4.193 million barrels per day.

Data from the Ministry of Oil, which was reviewed by “Economy News”, showed that the country’s oil exports, excluding the Kurdistan Region, “attained 3.273 million barrels per day, compared to 3.120 million barrels per day in October, an increase of 4.9% on a monthly basis, amid an increase in the share of OPEC +.”

Iraq's share rose in October to 4.193 million barrels per day from 4.149 million barrels per day in October as the OPEC + group continued to increase production by 400,000 barrels per day per month, according to the July agreement, and the second largest producer in OPEC will get a higher share of 4.237 million barrels per day in December.

Central and southern oil exports increased in November by 6% to 3.195 million bpd, while Kirkuk crude exports through the Turkish port of Ceyhan decreased by 30% to 67.756 bpd.

Iraq achieved $7.590 billion in November from selling its oil at an average of $77,333 a barrel, compared to $7.666 billion in October from selling its oil at $79.274 a barrel.

OPEC+ is weighing its supply options after the US-led attempt to lower prices by releasing stocks was complicated by a massive sell-off after renewed pandemic fears.

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