Iraq ... oil exports are falling below their potential
Iraq oil exports fell in October to 2.461 mbpd
BAGHDAD, November 2, 2014
Iraq's oil exports fell in October to an average 2.461 million barrels per day (mbpd) from 2.54 mbpd in the previous month, the oil ministry spokesman said.
October shipments generated $6.241 billion in revenue. Iraq sold its crude for $81.8 per barrel.
Meanwhile, bad weather trimmed oil shipments from Iraq's southern Basra terminals, with only 1.44 million barrels being exported compared with 2.28 million the previous day, a shipping source said.
"High winds around the Basra oil terminals made it difficult for ships to reach the ports. Loading operations have been disrupted," the shipping source said.
Opec member Iraq exports the bulk of its oil from its southern ports.
Shipments from the northern oilfields of Kirkuk have been shut since March 2 due to attacks on a pipeline to Turkey, keeping total exports below their potential.--Reuters