Iraq's Oil Exports Rise to 2.96 Mln Bpd in February, Says Ministry

Business

March 1st, 6:45pm

Asharq Al-Awsat

A picture taken with drone shows the Khor Al Zubair Port near Basra, Iraq January 12, 2021. (Media Office of The General Company for Ports of Iraq/Handout via Reuters)

Iraqi oil exports rose to 2.96 million barrels per day (bpd) in February from 2.868 million bpd the previous month, the Oil Ministry said on Monday. Exports from Iraq’s southern Basra terminals reached 2.825 million bpd in February, up from 2.77 million bpd the month before, the ministry added. Shipments from Kirkuk through Ceyhan averaged 135,000 bpd in February, up from 98,000 bpd in January. Iraq, OPEC’s second-largest producer, relies on oil exports for nearly all its state revenue. It was hit hard by low oil prices last year and struggled to pay public sector workers. Iraq’s February revenue from oil increased to $5 billion with an average price per barrel of $60.33. Iraq sold its crude at an average price of $53.294 in January.

from Asharq AL-awsat https://english.aawsat.com/home/article/2835091/iraqs-oil-exports-rise-296-mln-bpd-february-says-ministry