Iraqi oil exports decline

January oil exports in Iraq fell to 2.56 million barrels a day compared to 2.94 million barrels per day in December, the country’s Ministry of Oil revealed.

The ministry’s spokesman, Assem Jihad, said Iraq’s oil exports for the month of January amounted to 78 million barrels at a rate of 2.56 million barrels per day.

He pointed out that 74.1 million barrels of oil exports was exported from southern ports, while 4.5 million barrels of oil were exported from Kirkuk.

Jihad said the income earned from exports amounted to $3.258 billion, with an average price of $41 per barrel. He explained that the exported quantities were shipped by international oil companies from the ports of Basra and Khor Al-Amaya.

The official attributed the decline in oil exports to the bad weather conditions in the southern ports, which have been directly affecting the process of loading oil tankers for more than two weeks.