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Iraq oil exports at 2.9 million bpd, revenues more than $ 4 billion

Category: Economy

Date: 2021-01-03T07:53:24+0000
Iraq oil exports at 2.9 million bpd, revenues more than $ 4 billion

Shafaq News / The head of Iraq's state-oil marketing company, SOMO, Alaa al-Yasiri, said that "after OPEC agreement the quantity of oil exported is running at 2.9 million bpd of $ 4.2 billion.

The head of SOMO, added on Saturday “the OPEC agreement positively affected Iraq”, state news agency INA reported.

Al-Yasiri also said the quantity of oil exported from the Kurdistan region through the Turkish port of Ceyhan is running at 430,000 barrels per day, according to INA.

He added that SOMO has the capacity to intake the region’s oil that is meant for export, INA said.

Earlier, the Iraqi Oil Ministry Ihsan Abdul Jabbar Ismail announced that Iraq’ total crude exports increased (2.846 million bpd) in December from the previous month (2.709 million bpd) in the previous month.

OPEC, Russia and allies, a group known as OPEC+, are likely to hold their next meeting to set oil policy on Jan. 4, two sources close to the group told Reuters last Monday.

OPEC+ agreed last week to raise oil output by 500,000 barrels per day (bpd) in January and to hold monthly meetings starting in January to decide on further production adjustments that will add no more than 500,000 bpd a month.

A third source said to Reuters the meeting date would be confirmed by the next gathering on Dec. 17 of the OPEC+ panel, the Joint Ministerial Monitoring Committee.

 

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