Iraq’s total oil exports average 3.620 mln bpd in February

By  Trend

Iraq’s oil exports averaged 3.620 million barrels per day (bpd) in February, down slightly from the previous month, the oil ministry said in a statement on Friday, Trend reports referring to Al Arabiya.

Iraq exported 3.649 million bpd of crude oil in January.

Exports from Iraq’s southern Basra ports stood at 3.54 million bpd, the ministry said, down from 3.556 million bpd in January.

Shipments from Iraq’s northern Kirkuk oilfields to the Turkish port of Ceyhan fell to 63,000 bpd, from 75,000 bpd in January, the statement said.

The average sale price in February was $60.834 per barrel, generating around $6,167,815,000 in revenue, the ministry added.

Iraq is producing below its maximum capacity of nearly 5 million bpd in line with an agreement between OPEC and other exporters such as Russia to curtail global supply in order to support prices.