Iraq’s oil company: country’s exports up to USD6.83 bn In November

A network of pipeline connecting Iraq’s northern oil fields to the Turkish port of Ceyhan. File Photo

Baghdad ( Iraq exported crude oil worth USD6.83 billion during the month of November, the country’s marketing company said in a statistic released on Monday.

Alghad Press website quoted the State Oil Marketing Organization (SOMO) saying that that was the worth of 105.51 million barrels exported during the month, with an average price per barrel of  USD57.194.

The statistic put the daily export rate at 3.503 million barrels.

“Kirkuk fields did not record the export of any petroleum quantities during last November.

Iraq’s oil ministry had unveiled intentions to drive up crude oil production to five million barrels a day before the end of 2017.

Last week, Iraq’s oil minister said he supports an OPEC decision to extend cuts in oil supply,  a measure aimed at increasing prices.

Iraq is OPEC’s second largest oil producer following Saudi Arabia.

Iraq’s oil exports for October were worth more than USD5.455 billion, with more than 103.7 million barrels recorded, a daily export rate of 3.3 million barrels and an average price per barrel of more than 52.5.

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