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UPDATE 1-Iraq exports 3.320 mln bpd oil in Jan, 3.269 mln bpd in Feb, ministry says
March 9, 2017 / 12:30 PM / 8 months ago

UPDATE 1-Iraq exports 3.320 mln bpd oil in Jan, 3.269 mln bpd in Feb, ministry says

(Adds sale price, context of oil exports decline)

BAGHDAD, March 9 (Reuters) - Iraq’s daily oil exports stood at 3.269 million barrels per day in February and 3.320 million bpd in January, the oil ministry said in an emailed statement on Thursday.

The volumes announced cover all exports made by state-run oil marketer SOMO from the southern ports on the Gulf and from the Turkish terminal of Ceyhan on the Mediterranean, it said.

Nearly all the oil sold was from the south as exports from Ceyhan ran at an average of 45,000 bpd in January and 29,000 bpd in February. Ceyhan receives crude from the northern Kirkuk oil fields.

The volumes are lower than record exports of over 4 million bpd achieved in November, reflecting supply cuts decided by the Organization of the Petroleum Exporting Countries to boost prices.

Iraq is the second biggest OPEC producer, after Saudi Arabia.

Average sale price of January was $48.6/barrel and $49.3 for February, the ministry statement said. (Reporting by Maher Chmaytelli. Editing by Jane Merriman)

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