October Oil Exports Fall

By John Lee.

The Iraq Oil Ministry has announced crude oil export figures for October showing an average of 2.7 million barrels per day (bpd), a drop of 11.53 percent on September’s 3.052 million bpd.

The poor performance was blamed on poor weather in the Gulf, and a stoppage of shipments from Northern Iraq to Ceyhan in Turkey.

The southern terminals reaching a record 3.1 million bpd in the first 27 days of the month, according to Reuters, but were then hit by weather problems.

Revenues for the month totalled $3.32 billion, giving an average sales price of around $39.56 per barrel.

(Sources: Reuters, BasNews)

(Oil image via Shutterstock)