February oil exports rise as OPEC-plus signals strategy shift
Iraq’s export volumes increased slightly month-on-month though revenues dipped as prices softened.
UPDATE: This story has been updated to reflect the Oil Ministry’s revised official export figures for February. The original data showed 3.308 million bpd in federal exports, yielding an Iraq Oil Report estimate of $6.60 billion in monthly revenue. The revised data show 3.398 million bpd in federal exports, yielding an Iraq Oil Report estimate of $6.70 billion in monthly revenue.
Iraqi oil exports increased in February, averaging 3.398 million barrels per day (bpd), up from 3.298 million bpd in January, according to Oil Ministry data.
Monthly oil revenues fell to about $6.70 billion, according to an Iraq Oil Report estimate*, down from $7.47 billion in January — a decline that reflected both lower global oil prices and fewer days in the month.
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