January oil exports dip as Iraq begins year of OPEC constraints

Both federal and KRG oil sales fell slightly as OPEC-plus gave no sign of lifting production caps.
The central metering and manifold platform (CMMP) with the al-Basra Oil Terminal in the background on Nov. 29, 2013. (ALI ABU IRAQ/Iraq Oil Report)

Iraq’s nationwide crude oil exports slumped in January to 3.644 million barrels per day (bpd) from 3.727 million bpd in December 2022, according to preliminary data from the Oil Ministry and industry officials.

Federal exports averaging 3.266 million bpd were only slightly below December’s 3.332 million bpd. Independent exports by the Kurdistan Regional Government (KRG) averaged about 378,000 bpd in January, down from 395,000 bpd the prior month.

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