Iraq Oil Exports Up Again in January

Revenue from Iraqi crude oil exports rose to $6.08 billion in January, the most in more than a year, the country’s State Oil Marketing Organization (SOMO) has reported.

The average price for Iraqi oil was $90.78 a barrel, compared with $86.31 in December and $80.59 in November.

Exports increased last month by about 10 percent to 67 million barrels, or about 2.16 million barrels a day, compared with 60.5 million barrels, or 1.95 million barrels a day, in December, it said.

Revenue from the southern oil center of Basra climbed to $4.88 billion, the highest since 2003, on January exports of 54 million barrels. Sales from the northern oil hub of Kirkuk, where pipelines and oil facilities are often the target of insurgent attacks, rose slightly to $1.2 million on shipments of 13 million.

(Sources: AFP, Bloomberg, SOMO)

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