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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq's oil exports rise despite OPEC+ cuts

    Rocky
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    • Post n°1

    Iraq's oil exports rise despite OPEC+ cuts Empty Iraq's oil exports rise despite OPEC+ cuts

    Post by Rocky Fri 26 Apr 2024, 5:06 am

    Iraq's oil exports rise despite OPEC+ cuts

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    Economy News - Baghdad
    Iraq's average oil exports during the first quarter of this year (2024) increased by 430,000 barrels per day on an annual basis, according to recent data published by the Energy Research Unit.
    The increase comes despite the country's pledge to implement a voluntary reduction in its oil production by 223 thousand barrels per day during the first half of 2024, but production and export numbers still indicate Iraq's violation of its pledges and commitments to the OPEC+ alliance agreement, according to what was monitored by the Energy Research Unit.
    Although Iraq's average oil production declined in the first quarter of this year on an annual basis to 4.2 million barrels per day, it is considered higher than the target of 4 million barrels per day according to the coalition agreement.
    Iraq announced a reduction in its oil exports to 3.3 million barrels per day - by 130 thousand barrels per day - last March, to compensate for the increase in production above OPEC+ quotas during the months of January and February 2024, but last month’s figures indicate a continued increase in exports. Iraqi.
    Iraq's average oil exports - crude and derivatives - increased during the first quarter of 2024 to 3.92 million barrels per day, compared to 3.49 million barrels per day in the same quarter of last year, i.e. an annual growth rate of 12.3%.
    Iraq's average exports of crude oil increased to 3.36 million barrels per day during the period from January to the end of last March, compared to 3.20 million barrels per day in the comparative quarter of the previous year.
    Last January, Iraqi crude exports rose to 3.37 million barrels per day, compared to 3.13 million barrels per day in the corresponding month of last year.
    On a monthly basis, the country's oil exports declined slightly last February to 3.35 million barrels per day, but they were marginally higher when compared to the comparative month of last year, which recorded 3.33 million barrels per day.
    Iraq's crude oil exports rose on a monthly and annual basis during last March to 3.38 million barrels per day, compared to 3.14 million barrels per day in the same month of 2023.
    The figures, obtained by the Energy Research Unit from the Shipping Data Analysis Company (Kpler), show that Iraq’s average exports of oil derivatives rose to 0.554 thousand barrels per day during the first quarter of 2024, compared to 0.287 thousand barrels per day in the corresponding quarter of 2023.
    Last January, exports of oil derivatives grew to 0.444 thousand barrels per day, compared to 0.266 thousand barrels per day in the same month last year.
    It continued to rise last February on an annual and monthly basis to 0.557 thousand barrels per day, compared to 0.268 thousand barrels per day in the comparative month of 2023.
    For the third month in a row, Iraqi oil derivatives exports rose last March to 0.662 thousand barrels per day, compared to 0.328 thousand barrels per day in the corresponding month of last year.
    Among Iraq's most prominent oil exports is the naphtha product, whose average exports rose during the first quarter of this year to 176.93 thousand barrels per day, compared to 80.43 thousand barrels per day in the comparative quarter of last year.
    Last January recorded the lowest rate in Iraq's naphtha exports, amounting to 120.53 thousand barrels per day, while February recorded the highest rate, amounting to 214.49 thousand barrels per day.


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