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Iraq’s crude exports exceed 101 mln barrels in Dec.: ministry

BAGHDAD, Jan. 1 (Xinhua) — Iraq exported 101.58 million barrels of crude oil in December, bringing in revenues of more than 7 billion U.S. dollars, the Iraqi oil ministry said on Saturday.

The average selling price for crude oil in the month was more than 72 dollars per barrel, according to a ministry statement, citing statistics from the State Organization for Marketing of Oil.

A total of 98.57 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, and about 2.7 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean during the month, the statement said.

It added that crude oil exports for December were at an average of 3.28 million barrels per day.

Iraq used to export more than 100 million barrels monthly with higher revenues, but the OPEC Plus agreement to cut oil production and a dip in oil prices due to the impact of the COVID-19 pandemic on the global economy have combined to cause the decline of the country’s oil exports.

Iraq’s economy heavily relies on crude oil export, which accounts for more than 90 percent of the country’s revenues. Enditem

Source: Xinhua · | January 1, 2022

Iraq’s crude exports exceed 101 mln barrels in Dec.:

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