Iraq oil exports hits high but revenue declines

04 Jan 2015

(MENAFN) Iraq’s Oil Ministry said that that its oil exports reached their highest level in decades in December, but that the country’s revenues registered a decline due to the continuous fall in global oil prices, Arab News reported

During December, Iraq exported 91.141 million barrels of oil for an average of 2.94 million barrels per day, which is the highest daily average since 1980, and higher by 11 million barrels compared with the previous month.

Despite the increase in oil exports, revenues were USD5.247 billion, increasing slightly compared with November and much lower than the early months of 2014 because of sharply declining oil prices.

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