Iraq has seen slight fluctuations in its oil exports in 2018. In March, they were up from February, which helped as prices have gone down each month of the new year.
The federal
government exported an average of 3.453 million barrels a day in March. That was up from February’s
3.426 million. In 2018, the Oil Ministry has been averaging 3.4 million barrels
a day, which was lower than the last two months of 2017 when Iraq was exporting 3.5 million.
Kirkuk’s two main oil
fields Bai Hassan and Avana Dome are still not exporting. Avana Dome is online
again, and sending its oil to a refinery in Irbil. There was a plan to truck oil from Kirkuk to a refinery in Iran, but lack of security
along the highway ended that idea.
A barrel of Iraqi
crude sold for $59.95 per barrel in March. After hitting a low of $22 per
barrel in January 2016, oil prices have steadily climbed back up. In January
2018, it hit $63 the highest since November 2013. Since then the amount has
decline however to $60.14 in February, and then $59 in March. OPEC agreed upon
a production quota to try to raise prices, but Iraq is one of the biggest cheaters.
Federal Oil Exports, Prices, Revenues 2014-2018
|
Month
|
Avg Export
(Mil)
|
Avg Price
|
Earnings
(Bil)
|
|
Jan 2014
|
2.228
|
$102.37
|
$7.073
|
|
Feb
|
2.799
|
$102.05
|
$7.9
|
|
Mar
|
2.396
|
$101.03
|
$7.507
|
|
Apr
|
2.51
|
$100.69
|
$7.582
|
|
May
|
2.58
|
$100.69
|
$8.077
|
|
Jun
|
2.423
|
$102.96
|
$7.47
|
|
Jul
|
2.442
|
$102.27
|
$7.8
|
|
Aug
|
2.375
|
$97.44
|
$7.172
|
|
Sep
|
2.542
|
$90.76
|
$7
|
|
Oct
|
2.461
|
$81.12
|
$6.19
|
|
Nov
|
2.51
|
$70.40
|
$5.238
|
|
Dec
|
2.94
|
$57
|
$5.195
|
|
2014 Totals
|
2.517
|
$92.39
|
$7.017
|
|
Jan 2015
|
2.535
|
$41.45
|
$3.258
|
|
Feb
|
2.597
|
$47.43
|
$3.449
|
|
Mar
|
2.980
|
$48.24
|
$3.449
|
|
Apr
|
3.077
|
$51.70
|
$4.8
|
|
May
|
3.145
|
$55.87
|
$5.447
|
|
Jun
|
3.187
|
$55.32
|
$5.289
|
|
Jul
|
3.105
|
$50.99
|
$4.908
|
|
Aug
|
3.079
|
$40.59
|
$3.925
|
|
Sep
|
3.052
|
$40.32
|
$3.725
|
|
Oct
|
2.703
|
$39.56
|
$3.29
|
|
Nov
|
3.363
|
$36.42
|
$3.66
|
|
Dec
|
3.216
|
$29.84
|
$2.92
|
|
2015 Totals
|
3.003
|
$44.81
|
$4.094
|
|
Jan 2016
|
3.285
|
$22.21
|
$2.262
|
|
Feb
|
3.224
|
$23
|
$2.249
|
|
Mar
|
3.287
|
$28.40
|
$2.894
|
|
Apr
|
3.363
|
$33.38
|
$3.368
|
|
May
|
3.2
|
$37.78
|
$3.748
|
|
Jun
|
3.175
|
$40.36
|
$3.845
|
|
Jul
|
3.203
|
$38.28
|
$3.802
|
|
Aug
|
3.229
|
$29.24
|
$3.928
|
|
Sep
|
3.276
|
$38.89
|
$3.822
|
|
Oct
|
3.384
|
-
|
$4.426
|
|
Nov
|
3.47
|
$40
|
$4.216
|
|
Dec
|
3.52
|
-
|
$5.074
|
|
2016 Totals
|
3.302
|
-
|
$3.625
|
|
Jan 2017
|
3.321
|
-
|
$5.002
|
|
Feb
|
3.270
|
-
|
$4.514
|
|
Mar
|
3.258
|
$47.18
|
$4.766
|
|
Apr
|
3.253
|
$47.27
|
$4.607
|
|
May
|
3.261
|
$47
|
$4.623
|
|
Jun
|
3.273
|
$42.07
|
$4.144
|
|
Jul
|
3.230
|
$43.80
|
$4.386
|
|
Aug
|
3.216
|
-
|
$4.608
|
|
Sep
|
3.24
|
-
|
$4.882
|
|
Oct
|
3.346
|
$52.59
|
$5.456
|
|
Nov
|
3.502
|
$59.19
|
$6.021
|
|
Dec
|
3.535
|
$59.35
|
$6.504
|
|
2017 Totals
|
3.309
|
-
|
$4.959
|
|
Jan 2018
|
3.49
|
$63.29
|
$6.847
|
|
Feb
|
3.426
|
$60.14
|
$5.77
|
|
Mar
|
3.453
|
$59.95
|
$6.418
|
SOURCES
Bloomberg, “Iraq’s Opec cheating wins a growing share of world’s top
markets,” 1/7/18
Lando, Ben, “Iraq
exports steady in March,” Iraq Oil Report, 4/2/18
Reuters, “Plan to
truck oil from Iraq’s Kirkuk to Iran delayed by security concerns,” 2/26/18
- “UPDATE 1-Iraq’s
oil exports from southern ports 3.45 mln bpd in March,” 4/1/18
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