Iraq exports rebound but oil price does not

Iraq starts 2016 with its second-highest monthly export tally ever, but revenues drop along with the price of oil.
An employee works at the Tawke oil field on May 31, 2009 in Dohuk province. (MUHANNAD FALA’AH/Getty Images)

Iraq posted its second-best monthly export rate ever, but oil sales have not risen steeply enough to offset lower oil prices.

Excluding oil sold by the Kurdistan Regional Government (KRG), which operates its oil sector independently of the federal government, Iraq exported an average of 3.285 million barrels per day (bpd) last month, according to the Oil Ministry's initial calculation.

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