Iraq says southern oil exports set a record

2 Dec 2017   Iraq

The Iraqi Oil Ministry said exports from southern ports set a record, but more work was needed to make up for losses from issues in the north of the country. The ministry said the southern port at Basra recently sent out an average of 3.9 million barrels of oil per day, the highest capacity ever reached there. In a statement, Oil Minister Jabar al-Luaibi said southern exports were supported by improved market conditions as the price of oil holds above $60 per barrel. That doesn’t mean the country can rest on its laurels, he said. The government needs to generate more revenue to make up for losses incurred “as a result of […]

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