January Oil Exports Up; Revenues Slump

By John Lee.

Iraq’s oil ministry said on Monday that exports rose slightly in January to an average of 3.285 million barrels per day (bpd), up from 3.216 million bpd in December.

Production from the southern oilfields averaged 3.9 million bpd, down from a record high of 4.13 millon bpd the previous month.

All of the exports were from Iraq’s southern ports, with Baghdad exporting no oil through its northern pipeline to Ceyhan in Turkey for a fourth consecutive month.

January revenue totalled $2.262 billion, with 101.839 million barrels sold at $22.21 per barrel, down from $29.288 in December.

(Source: Ministry of Oil)

(Oil image via Shutterstock)

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