Iraq ends turbulent oil year on high note
Deal with Kurdistan and steady SPM loadings help bring relatively good news to depressing year in oil sales.
Members of the Iraqi military guard an oil platform on Sept. 21, 2014, in the Basra Gulf. (HAIDAR MOHAMMED ALI/AFP/Getty Images)
Iraq reported record monthly exports for December, though revenues dropped to a three-year low due to the falling price of oil.
Exports for 2014 averaged 2.517 million barrels per day (bpd), according to the initial readout provided by Oil Ministry spokesperson Assem Jihad – the highest annualized level since 1989, when exports hit 2.595 million bpd, according to the U.S. Energy Information Administration.
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