Mubasher TV
Contact Us Advertising   العربية

Iraq oil exports below expectations in Feb

Iraq oil exports below expectations in Feb
Photo Credit: Arabianeye-Reuters


Baghdad-Mubasher: The volume of Iraq’s crude oil exports reached 2,596 barrels per day in February, according to a statement released by the ministry of oil.
Average exports are still below levels targeted to secure funding for military operations against extremists.
Ministry spokesman Assem Jihad said that the total value of exports reached $3.4 billion, based on an average price of $46.795 per barrel.
Iraq's 2015 budget is based on an expected price of $56 per barrel with a daily export capacity of 3.3 million barrels.
Oil revenues make up nearly 95% of Iraq's budget, the statement highlighted, adding that Iraq holds the world's fourth largest oil reserves, amounting to 143.1 billion barrels.