Sumo: Oil exports for January decreased by 2% and an expert explains the reasons
The production quota for Iraq for the month of last January, by OPEC, amounted to 4.281 million barrels per day, compared to 4.237 million barrels per day in December 2021.
According to SOMO data, central and southern Iraq's exports declined by 2% to 3.111 million barrels per day in January compared to the previous month, while its exports of Kirkuk crude through the Turkish port of Ceyhan declined by 5.7% to 82.117 thousand barrels per day.
The oil expert, Hamza Al-Jawahiri, said in an interview with Shafaq News Agency; "The decline in Iraqi oil exports during January is due to the cessation of Iraqi oil flows through the Turkish Ceyhan after the explosion of the exported pipeline in southern Turkey, which led to the temporary closure of exports through the north, in addition to the bad weather in the ports on the Persian Gulf, which hindered the loading of oil."
Al-Jawahiri added; "Iraq has the ability to increase its oil production and exports to levels more than what was set by OPEC," noting that "Iraq has 600,000 barrels of oil in surplus, which came as a result of development work, and it could be raised if OPEC raised its share in the markets."
And the Iraqi Oil Ministry announced that it achieved in January financial imports of 8.27 billion dollars from oil sales at a price of 83.246 dollars per barrel, compared to 7.39 billion dollars from December exports.
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