BAGHDAD: Iraq exported an average of around 1.85 million barrels per day of crude oil in July at an average price of $70 per barrel, an Iraqi oil official said on Monday.
Falah al-Amri, the head of Iraq’s State Oil Marketing Organization, said a rise in domestic consumption, a spike in temperatures and heavy oilfield maintenance impeded exports.
SOMO said early in July that June exports averaged 1.9 million bpd. Last week the Iraqi Oil Ministry said exports in June were 1.823 million bpd.
About 78 percent of July crude exports were from the southern oil hub of Basra and the rest from the northern oilfield around Kirkuk, including about 10,000 bpd by trucks to Jordan, Amri said.
Exports from Basra, Iraq’s main oil-exporting center can fluctuate widely due to weather conditions or technical problems, while bomb attacks have hampered crude flow from Kirkuk fields in recent months.
OPEC member Iraq has signed deals with global oil firms that could boost its output capacity to 12 million bpd in six to seven years’ time from the current 2.5 million bpd, potentially rivaling top producer Saudi Arabia.
Baghdad hopes the deals will generate billions of dollars needed to boost an economy severely damaged by war, neglect and years of economic sanctions.
