Iraq Oil Exports Hit 2.273m bpd in June

Bloomberg reports that Iraq exported 2.273 million barrels of oil a day in June, the most since the 2003 U.S.-led invasion of the country, according to Falah al-Amri, chairman of the State Oil Marketing Organization (SOMO).

June oil revenue, at an average price of $105 a barrel, dropped to $7.1 billion from $7.4 billion a month earlier, when the price was $108, he said by telephone from Baghdad.

The port of Basra exported 1.727 million barrels of crude a day last month while the oil hub of Kirkuk in the north shipped 537,000 barrels a day, al-Amri said. Another 10,000 barrels a day were shipped to Jordan by truck.

Iraq expects current oil output to rise to more than 3 million barrels a day by the end of this year, compared with 2.4 million barrels a day in December.

(Source: Bloomberg)

Comments are closed.