| 2008: Iraq exported one million and 900 thousand barrels of crude oil |
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April 10, 2008 A senior official in the Iraqi Oil Ministry said his country exported last March one million and 900 thousand barrels per day of the actual production of two and a half million barrels. Official spokesman of the Iraqi Oil Ministry, Asim Jihad, said, "Iraqi oil exports amounted to 350 thousand barrels per day from the northern area towards the Turkish port of Ceyhan, and one million 550 thousand barrels from the southern ports," noting that the production of crude oil reached the limits of two and a half million barrels. Jihad confirmed that the high oil prices in international markets will help Iraq to achieve additional oil revenues which he anticipated to hit more than five billion and a half-billion last March, explaining that a barrel of Iraqi oil is sold at more than $90, ten dollars less than American oil, and at the level of oil prices in the region. He explained that this price difference is due to the transfer of oil from the download sites to global markets and stock exchanges where oil is sold, stressing that Iraqi Oil Ministry is seeking to increase the volume of sale of Iraqi oil to Asian markets due to the closeness of these markets to Iraq. |