BAGHDAD: Iraq’s crude oil exports reached 2.94 million b/d in December; a new record high, taking the country’s 2014 monthly average to 2.517 million b/d, as the recent deal with Kurdish authorities begins to bear fruit.
The exports include 2.76 million b/d from southern Persian Gulf terminals, along with 180,000 b/d shipped from the Turkish port of Ceyhan, well-informed Iraqi oil sources confirmed to Platts.
Based on these figures, Iraq’s production during December is estimated at 3.4 million b/d, including 150,000 b/d of Kurdish crude.
If confirmed, this would be the country’s highest production rate since 1979. November production was 2.89 million b/d, while exports were 2.51 million b/d, according to the official figures.
