Iraq’s March oil exports fall by 400k bpd
Oil sales through the northern pipeline were all but shut in due to sabotage, increasing Iraq's reliance on an expanding southern export system.
A drilling rig at the West Qurna 2 oil field in Basra, operated by Russia's Lukoil. (ALI ABU IRAQ/Iraq Oil Report)
KIRKUK - After hitting record levels in February, Iraq's oil exports dropped in March by 403,000 barrels per day (bpd), with most of the decrease due to attacks on the Iraq-Turkey Pipeline (ITP).
Iraq earned $7.507 billion in March, selling an average 2.396 million bpd at an average $101 per barrel, according to Oil Ministry data released Thursday. That's down from the 2.799 million bpd Iraq averaged in February, but up from 2.228 million bpd in January.
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