Loadings from Turkey lead slight Iraqi export increase

Crude loadings from the Turkish port of Ceyhan by both the federal and Kurdistan regional governments increased over the past month, raising Iraq to a monthly nationwide export average of 3.049 million barrels per day (bpd) in September — still near six-year lows.

The average price of oil dropped by nearly $3 per barrel compared to August, which led to lower monthly oil revenues, on which Iraq relies on for more than 90 percent of its national budget.