Nationwide exports and revenues increase in May

Oil exports from Iraq's federal government and Kurdistan region increased in May, taking advantage of a rising oil price.
Nationwide exports and revenues increase in May
Lamps illuminate pipelines running across the Tawke oil field in Kurdistan, which is being developed by Norway's DNO. (SEBASTIAN MEYER/Metrography/Iraq Oil Report)

Iraq's crude exports rose nearly 5 percent last month, from 3.62 million barrels per day (bpd) in April to 3.8 million bpd in May, as tanker loading rates increased from both Iraq's southern terminals and at Turkey's Ceyhan terminal.

The uptick comes as the global oil price continues its rebound, with Iraq's federal crude sales averaging $69.93 per barrel, a nearly 8 percent increase from April, earning a monthly total of $7.566 billion, according to data released by Iraq's Oil Ministry.*

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