Iraq oil exports, revenue rebound

November oil sales have ticked up on higher oil prices and volumes, heading into uncertain new year with output expected to rise.

Tankers dock at the Al-Basra Oil Terminal, the principal export point for Iraqi oil. (BEN LANDO/Iraq Oil Report)

Iraq averaged 2.13 million barrels per day (bpd) in oil exports in November, the highest levels since August, ending a two-month decline.

At $106.60 per barrel, Iraq earned $6.83 billion last month, also the most since August, bringing the 11-month total this year to $75.91 billion in oil proceeds.

Iraq relies on oil for 95 percent of state revenues. The cabinet has approved a $100 billion budget for 2012, pending approval by Parliament, which doesn't meet again until January, and must dea...

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Source: http://www.iraqoilreport.com/oil/production-exports/iraq-oil-exports-revenue-rebound-7013/?utm_source=rss&utm_medium=rss&utm_campaign=iraq-oil-exports-revenue-rebound

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