Iraq’s oil exports from its southern ports averaged 3.3 million barrels per day (bpd) in January, two oil officials told Reuters today.
Exports from its southern Basra terminals reached 3.232 million bpd in December.
The bulk of Iraq’s oil is exported via the southern terminals, which account for more than 95 per cent of the OPEC producer’s state revenue.
Iraq, OPEC’s second-largest producer, is heavily dependent on oil revenues. The hydrocarbons sector accounts for the vast majority of export earnings and some 90 per cent of state revenue.
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