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FINANCIAL NEWS
Iraq’s oil exports drop 14 percent in January
14 Feb 2015
(MENAFN) Iraq’s Oil Ministry said that crude exports averaged 2.535 million barrels a day in January, a decrease of nearly 14 percent from the previous month, Gulf Times reported.
Last month’s revenues stood at USD3.258 billion, based on an average price of USD41.45 per barrel, while December’s exports averaged 2.941 million barrels a day, bringing that month’s revenues to USD5.161 billion.
Iraq’s 2015 budget is based on an expected oil price of USD56 per barrel, with a daily export capacity of 3.3 million. The nearly USD102.5 billion runs with a deficit of USD21.4 billion.
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