January exports dip, revenues rise

Higher global oil prices helped Iraq compensate for a slight decline in exports.
January exports dip, revenues rise
A tugboat maneuvers near an oil tanker at the Al-Basra Oil Terminal. Iraq needs more export capacity, and the first stage of a new export facility is has just opened. (BEN LANDO/Iraq Oil Report)

Iraqi oil exports fell slightly in January, but state revenues continued to climb due to strong oil prices.

The country exported a total of 3.758 million barrels per day (bpd), down from 3.854 million bpd in December, according to Iraq Oil Report estimates of combined oil sales by the federal government and the autonomous Kurdistan Regional Government (KRG).

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