June Oil Exports Slightly Down

Iraq exported 1.823 million barrels a day of crude oil in June, down 4% on the 1.9 million barrels a day exported in May, the Iraqi Oil Ministry said in a statement issued on Monday.

Dow Jones reports that Iraq exported in June an average of 1.44 million bpd from its southern terminals at the Gulf, compared with 1.46 million bpd in the previous month.

Some 373,300 bpd were exported from its northern Kirkuk oil fields through the Turkish port of Ceyhan, compared with 430,000 bpd in May.

Some 10,000 bpd were shipped by trucks to Jordan, similar to the amount shipped the previous month.

Revenue from crude exports in June was $3.889 billion ($71.10 per barrel), compared with $4.340 billion ($73.70 per barrel) in May, according to the Oil Ministry’s statement.

Exports are below the levels achieved in the months before the invasion of Iraq in 2003, when exports used to average 2 million barrels a day or more.

Iraqi oil output has slumped from heights of nearly 3.5 million barrels a day before the country’s 1990 invasion of Kuwait.

The peak output achieved since then hovered at 2.8 million barrels a day before the 2003 U.S. invasion.

(Sources: Dow Jones, Azzaman)

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