Iraq’s oil exports increased in December, 2018 to hit 3.726 million barrels per day (b/d), Thamer Ghadhban, Iraqi Oil Minister, said in a statement on January 2.
Exports level in November the same year reached about 3.372 million b/d, an oil official said.
In December, the exports from Iraq’s Basra increased to around 3.63 million b/d, up from 3.363 million b/d in November, the ministry pointed out in the statement.
Iraq’s exports from Kirkuk oilfields to the Turkish Ceyhan port will remain between 80,000 to 90,000 barrels per day (b/d) as most of the produced crude oil from Kirkuk is directed to the northern refineries, Ghadhban said on December 26.
The sale price in December was around $52.8 per barrel, which resulted in $6.1 billion of revenues according to the statement.
Iraq’s production reached around 5 million b/d, less than its maximum capacity, which comes in line with the agreement of the Organization of Petroleum Exporting Countries (OPEC) to cut oil production.