Iraq, OPEC’s third-largest oil producing nation, increased its exports to 2.876 million barrels per day (mmbbl/d) in October up from 2.613 mmbbl/d in the previous month.

Iraq’s oil ministry has announced that oil revenues accounted for in excess of $3.49 billion after a total of 85.6 million barrels of oil (mmbbl) were exported.

Genel Energy, mentioned that it expects a decline in production at its Kurdish oil fields.

Kirkuk has received new payments for exported oil from the Kurdistan Regional Government (KRG) bringing up the total amount paid to Kirkuk to $50m since December 2015.

An explosion on one of the two pipelines bringing crude from Kirkuk in Iraq to the Turkish port of Ceyhan on the Mediterranean led to a large fire on Thursday, shutting oil flows on that pipe, a Turkish energy official said.