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October exports hit 8-month high

The northern export pipeline was offline for a seventh straight month, but Iraq has now compensated for about half the lost volumes with increased oil sales via southern outlets.
An employee of the state-run Dhi Qar Oil Company attends to pumping infrastructure at the Nassiriya oil field's gas isolation station in October 2023. (Photo credit: Dhi Qar Oil Company)

Iraq exported 3.534 million barrels per day (bpd) of crude oil in October, the highest nationwide monthly average since March, and up from 3.438 million bpd in September, according to preliminary Oil Ministry data. *

The federal government has now increased its oil exports by over 200,000 bpd since the March shutdown of the northern export pipeline to Turkey, which ended the Kurdistan Regional Government's (KRG) ability to sell oil independently on the international market.

Iraq has made up for about half of the lost KRG volumes with increased production from southern fields and exports through Basra Gulf outlets, which are now operating near their maximum sustainable capacity. Southern export volumes have not been this high since September 2019.

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