November exports rise ahead of expected surge
Iraq on track to end year on upward trend for oil exports, though phantom Kirkuk sales go unexplained.
Iraqi Minister of Oil Adil Abd al-Mahdi (R) takes a tour of Basra Gulf export platforms on Sept. 21, 2014, (HAIDAR MOHAMMED ALI/AFP/Getty Images)
KIRKUK - Iraq saw an increase in oil exports in November, an upward trend that is expected to continue as leaders in Baghdad and Erbil implement an oil agreement.
The Iraqi Oil Ministry said last month's 2.51 million barrels per day (bpd) of average oil exports – nearly the sole source for state revenues – had brought its total earnings to $79 billion through November. Iraq is on pace for its lowest annual oil revenues since 2011, due to both the dropping price of oil and a rollercoaster year for exports.
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