Oil Report

UPDATE 1-Iraq’s oil exports rise to 2.868 mln bpd in January, oil ministry says

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BAGHDAD, Feb 1 (Reuters) - Iraqi oil exports rose to 2.868 million barrels per day (bpd) in January from 2.846 million bpd the previous month, the Oil Ministry said on Monday.

Exports from Iraq’s southern Basra terminals reached 2.77 million bpd in January, up from 2.75 million bpd the month before, the ministry added. Shipments from Kirkuk through Ceyhan averaged 98,000 bpd in January.

Rising oil prices boosted Iraq’s January oil revenue, its main income stream, to about $4.74 billion with an average price per barrel of $53.294.

Iraq had sold its crude at an average price of $47.765 in December. (Reporting by Ahmed Rasheed; Editing by Louise Heavens and Edmund Blair)