Loading arms at the terminal for Iraqi crude exports at the Turkish port of Ceyhan. (STAFF/Iraq Oil Report)
Iraq’s nationwide oil sales dipped by 45,000 barrels per day (bpd) in July, to 3.701 million bpd,* as some crude was diverted from exports to domestic refineries.
Revenues also declined as global oil prices retreated from near-record highs earlier in the year. Baghdad earned $10.608 billion, down from $11.355 billion in June, according to the Oil Ministry, while the KRG's oil sales were worth an estimated $1.237 billion, down from $1.244 billion the prior month, according to an Iraq Oil Report estimate based on export volumes and pricing data.**
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