Iraqi oil exports steady in June though federal revenues fall

Federal oil exports increased, but the oil price pushed down earnings, and Kurdistan tanker loadings slowed due to outages.
An oil tanker docks at the Mediterranean port of Ceyhan in Turkey in April 2015. (STAFF/Iraq Oil Report)

Nationwide oil exports were virtually flat in June from a 2018 peak in May, with the largest monthly federal Iraq tanker loadings of the year offset by a multi-day outage in the pipeline sending Kurdistan oil to Ceyhan.

The average price per barrel was slightly lower in June than in May, however, and federal government oil revenues also saw a month-on-month decline despite increased Basra Gulf loadings, according to data released by the Oil Ministry’s media office. The Kurdistan Regional Government (KRG) does not regularly release monthly oil export data.

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