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FINANCIAL NEWS
Iraq’s Dec oil exports grow to 2.145m bpd
23 Jan 2012
(MENAFN) Iraq’s oil ministry said that the country’s oil exports last month grew slightly to 2.145 million barrels per day (bpd), from 2.136 million bpd in the previous month, reported AP.
The ministry added that Iraq depends on oil exports for 95 percent of its revenues.
It also said that in December, the country managed to generate USD7.061 billion from selling oil, based on an average price of USD106.18 a barrel, that’s from a revenue of USD6.833 billion generated in November, when the average price per barrel was USD106.599.
It is worth noting that global crude prices grew recently due to uncertainty in the market, driven by Iran’s threat to close Strait of Hormuz in retaliation for potential Western sanctions.
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