November exports decline as global prices drop
Iraq's revenues fell steeply, as the mid-month resumption of Kirkuk oil sales via Turkey was not enough to offset southern export disruptions and sinking oil prices.
A worker maintains equipment at the Shirawa oilfield outside Kirkuk. (KARIM SAHIB/AFP/Getty Images)
Nationwide exports fell by an average 85,000 barrels per day (bpd) in November, coinciding with a significant drop in global oil prices, despite an otherwise upbeat month that saw a restart of Kirkuk oil flows to Turkey.
For the first time in more than a year, Iraq's federal government pumped oil northward to Turkey's Kirikkale refinery, and the Kurdistan Regional Government (KRG) saw a slight increase in exports as well. But those gains were more than offset by a 3 percent drop in exports via the Basra Gulf, from 3.478 million barrels per day (bpd) in October to 3.363 million bpd in November.
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