 |
| (AFP) |
Iraq witnessed the fourth straight month that prices for its
crude continued to rise. Fears of a global recession have apparently subsided
and the Trump administration’s threats to no longer give waivers to countries
buying Iranian oil helped prices creep up in April. A barrel of Iraqi petroleum
sold
for $67.41 up from a low of $52.80 in December 2018. That earned
Iraq $7.011 billion in April, the highest amount since October’s $7.9
billion.
Iraq’s exports also increased in April. It exported an
average of 3.466 million barrels a day up from 3.377 million in March. However
that was below the levels seen from December-February when the country was
shipping 3.6-3.7 million barrels a day. A new OPEC production quota to help
drive up prices has led to the decline in Iraq’s exports.
Basra was responsible for April’s increase exporting an
average of 3.256 million barrels a day. That was above March’s 3.354 million
barrels. Shipments from Kirkuk saw a slight decrease from 99,000 barrels a day
in March to 86,000 in April. Iraq does have 630,000 barrels in storage in
Turkey waiting for sale at a later date.
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
|
3.490
|
$63.29
|
$6.847
|
|
Feb
|
3.426
|
$60.14
|
$5.770
|
|
Mar
|
3.453
|
$59.95
|
$6.418
|
|
Apr
|
3.340
|
$64.60
|
$6.502
|
|
May
|
3.489
|
$69.80
|
$7.551
|
|
Jun
|
3.521
|
$69.32
|
$7.323
|
|
Jul
|
3.544
|
$69.16
|
$7.532
|
|
Aug
|
3.583
|
$69.65
|
$7.735
|
|
Sep
|
3.56
|
$74.15
|
$7.919
|
|
Oct
|
3.478
|
$73.38
|
$7.908
|
|
Nov
|
3.377
|
$61.09
|
$6.195
|
|
Dec
|
3.726
|
$52.80
|
$6.234
|
|
2018 Totals
|
3.498
|
$65.61
|
$6.953
|
|
Jan 2019
|
3.649
|
$56.15
|
$6.367
|
|
Feb
|
3.621
|
$60.83
|
$6.179
|
|
Mar
|
3.377
|
$63.80
|
$6.679
|
|
Apr
|
3.466
|
$67.41
|
$7.011
|
SOURCES
Van Heuvelen, Ben and Lando, Ben, “Exports steady in April,”
Iraq Oil Report, 5/2/19
Reuters, “Iraq’s oil exports reach 3.466 million bpd in
April: ministry,” 5/1/19
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