Iraq oil export rebound undercut by depleting oil price

The country faced the worst monthly average oil price in more than two years, overshadowing increased output by both federal and Kurdistan oil sectors.
Iraq oil export rebound undercut by depleting oil price
An oil tanker docks at the al-Basra Oil Terminal in June 2019. (SAMYA KULLAB/Iraq Oil Report)

Oil exports increased from both the Iraqi federal government and the semiautonomous Kurdistan region in February, but Iraq posted its worst month for oil revenues in more than two years due to declining oil prices.

Nationwide, Iraq sold an average 3.887 million barrels per day (bpd) in February, up from 3.694 million bpd in January and barely more than 3.874 million bpd in December.

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