Iraq’s August oil revenues steady as export volumes rise

Oil sales hit a 20-month high as Iraq increased export volumes and opened up a new revenue stream with jet fuel exports.
Tugboats position a single point mooring (SPM) buoy in the Basra Gulf in January 2012 as Iraq expands its export capacity. (ALI ABU IRAQ/Iraq Oil Report)

Iraq's federal government and semi-autonomous Kurdistan Regional Government (KRG) exported a combined 3.414 million barrels per day (bpd) of crude oil in August, a 74,000 bpd increase over July, according to provisional data supplied by the Oil Ministry and industry officials.

Total federal revenues were roughly steady as higher export volumes made up for a slightly lower average sale price for Iraqi crude.

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