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Iraq crude oil exports rise to 3.6 mln bpd in August –oil ministry

 

Iraqi crude oil exports rose to 3.603 million barrels per day (bpd) in August, from 3.566 million bpd the previous month, the oil ministry said in a statement.

Exports from the southern Basra terminals reached 3.468 million bpd, up from 3.435 million bpd in July, it said.

Shipments from Iraq’s northern Kirkuk oilfields to the Turkish port of Ceyhan averaged 105,000 bpd, the statement said.

Iraq has resumed oil deliveries to Jordan by truck, with test loads totaling 3,480 barrels, said oil ministry spokesman Asim Jihad. Volumes are expected to rise gradually to agreed shipments of 10,000 bpd, he added.

Jordan and Iraq agreed a new deal on the trade of oil and goods at a February meeting between their two prime ministers on the Iraqi-Jordanian border.

Trucked exports of oil from Iraq to neighboring Jordan had been halted in 2014 because of deteriorating security in western Iraq.

The average sale price in August was $56.77 a barrel, generating about $6.341 billion in revenue, the ministry said.

Iraq is producing below its capacity of nearly 5 million bpd, in line with a production-cutting agreement between OPEC and allies such as Russia to support prices.

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