Iraq oil exports hit 30-year high

Iraq oil exports in August averaged 2.6 million barrels a day. Iraq made $8.4 billion from its oil exports.

By

  • close
    In this August file photo, Iraqis fill up at a gas station in Baghdad, Iraq. Iraq is fast becoming an oil producing powerhouse. Last month, Iraq oil exports hit their highest level in more than 30 years.
    View Caption

Iraq's Oil Ministry says crude oil exports have averaged 2.565 million barrels a day in August, the highest level in more than three decades.

Ministry spokesman Assem Jihad said Sunday that last month's revenues stood at $8.442 billion based on an average price of $106 for each barrel. Jihad added that 2.252 million barrels a day were exported through the Persian Gulf and another 313,000 barrels were sent through Turkey's Ceyhan port.

Iraq's oil exports have climbed steadily since last year, thanks to a handful of international oil companies operating in Iraq and to the inauguration of two new export terminals in the Persian Gulf early this year.

Recommended: Think you know the odd effects of global climate change? Take our quiz.

Iraq holds the world's fourth largest oil reserves, some 143.1 billion barrels.

Share this story:
 
 
Make a Difference
Inspired? Here are some ways to make a difference on this issue.
Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.
 

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...