Iraq’s Oil Exports For November Increased By 5%

Baghdad Iraq’s oil exports for the month of November increased by 5%, with Iraq’s share rising to 4.193 million barrels per day.

The Ministry of Oil stated in a statement: “The country’s oil exports, with the exception of the Kurdistan region, amounted to 3 / 273 / thousand barrels per day, compared to / 3.120 / million barrels per day in October, an increase of 4.9% on a monthly basis, amid an increase in the share of OPEC +.

Iraq’s share rose in October to 4.193 million barrels per day from 4.149 million barrels as the OPEC + group continued to increase production by 400 thousand barrels per day per month, according to the July agreement, and the second largest producer in OPEC will get a higher share reached 4.237 million barrels per day in December.

Central and southern oil exports increased in November by 6% to 3.195 million bpd, while Kirkuk crude exports through the Turkish port of Ceyhan decreased by 30% to 67.756 bpd.

Iraq achieved $7.590 billion in November from selling its oil at an average of $77.333/ barrel, compared to $7.666 billion in October from selling its oil at $79.274 a barrel.

OPEC+ is reviewing its supply options after the US-led attempt to lower prices by releasing stocks was complicated by a massive sell-off after renewed fears of the pandemic.

 

Source: National Iraqi News Agency